I have been looking at a property that is only a few yards away from power lines. I know some people stay away from them because they are an eye sore. Has anyone not bought because of potential health risks? The unit I am looking at is blocked by a building directly in front of the towers, but if you drive around they are right there. I just want to hear your opinions and thoughts about them and if they have had trouble getting their unit rented out.
it will knock the appraisal down about $5k but you won't have any trouble getting it rented out. there's pros and cons to everything in life; overcome to power lines with attractive items of the house and/or adjust the price accordingly.
It seems that the health concerns about power lines that were very big 20-25 years ago have faded somewhat. While I don't personally own such a property, I would not consider it to be a MAJOR problem. Your target audience will be somewhat smaller (some people will have health concerns just like a portion of the population is still scared of microwave ovens), but as @Scott W. says, try to compensate with some other features.
I just purchased a quad-plex with power lines out back. Under the power lines is a walkway that brings you to a light rail station. Its a 2 minute walk oit of the back yard to the light rail, which is why I purchased the house.
The unit is fully rented with educated tenants and even with my inexperience as an investor, I dont believe I'll have a problem keeping it rented. The whole half of the street backs up to these power lines and theres families and tenants all over.
Thanks @Scott W. for that advice, good idea. @Andrew S. thanks, I guess I am still those that are afraid of them, but really don't know if they do harm. @Mike Hodukavich thanks for sharing your experience. I will probably put in an offer and see what happens. This property hasn't moved, but it is a short sale.
My brother has been living with a tower behind his house for 10 years now. He is no weirder now than he was when he moved in.
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