Just curious what anyone's thoughts are with properties near power lines. The area is desirable and the building is up to date with no major repairs needing to be done. I'm just concerned about the resale value down the line. Thanks for any responses!
Close power lines are an eyesore to most and may be considered an external obsolescence by an appraiser and can affect property value in a negative way. As long as the rest of the area is nice, you shouldn't have too hard a time finding a buyer down the line, but be aware that you may or may not get the full value of the property because of this external factor.
Bob, thanks for that response. Much appreciated!
@Josh VanAusdale If you're working with an agent, see if he can pull comps for similar properties.
There are some people who think high voltage lines are linked to cancer.
Personally, I think those people are as nuts as the anti-vaccine crowd, but it's something that you will have to contend with at resale time.
@Charlie MacPherson Thanks, Charlie. The comps in the same area are at least similar in price, with some higher than this property. Also further down the power line stretch into other communities/areas there are homes that are 4 times the price of this one (per my agent). Basically the same proximity as this home is to the lines. What do you think of that?
@Josh VanAusdale If the market demand is high and the comps have similar proximity and views of the power lines, I wouldn't worry about them.
Just be sure your comps are comparing apples to apples. When I run comps, I try to be within 1/4 mile and 6 months. There are times where even 1/4 mile too far though - that's where specific market knowledge is so important.
@Charlie MacPherson thanks so much, very helpful!