Buying House Next To Power Lines And How It Affects Resale
Some home buyers will run into their dream home when shopping. The price is lower than the market price. It has modern cabinets, a bathroom, millwork, a finished basement, and is beautifully landscaped. It has four bedrooms, four bathrooms plus a den. It is ideal and perfect for your family. However, if you look out the family room, there are power lines.
Buying House Next To Power Lines is something to think about. Homebuyers may get a lower price than comparable homes in the neighborhood when Buying House Next To Power Lines. Buying House Next To Power Lines can also affect resale value when it comes to selling. Market time to sell homes next to power lines will substantially be longer than comparable homes. There are not too many homebuyers who will be interested in buying house next to power lines. Even though the property is well below market, some buyers will not even consider Buying House Next To Power Lines.
Buying House Next To Power Lines And How It Affects Property Value
http://www.youtube.com/watch?v=f7Vip3GIzKw&ab_channel=Gustan Cho Associates-MortgageBankers
Buying House Next To Power Lines may decrease property values as much as 10% to 40%:
- The lower the proximity to power lines, the lower the value
- There are homebuyers who do not mind having their homes sit next to power lines but are concerned about their health
- What types of effects does it have on human health?
- Many rumors that power lines cause cancer
- Is this true?
- Will my family get cancer if I live next to power lines?
We will answer the above questions in the paragraph below.
Safety On Buying House Next To Power Lines
Back in 2002, I was shopping for a home in Tampa Florida for my parents. My parents wanted to purchase a brand new home. The market was hot and all homes were sold with the exception of a home that was next to power lines. It was underpriced, had all the amenities, luxury kitchen with granite countertops. The view of the power lines did not bother us much. However, the safety from living so close to power lines was a concern. We ended up taking a pass. The home was 20% below the market.
Many studies have been conducted on the electromagnetic fields (EMF) generated by power lines and their health hazards to humans. There are so many conflicting reports from these studies. There is no solid proof that electromagnetic fields (EMF) generated by power lines cause cancer or affect human health. 45% of the researchers conclude power lines have no negative effect on humans. However, 25% do conclude that there is a DNA defect from exposure to electromagnetic fields (EMF) with time.
Can Power Lines Cause Cancer
Electromagnetic Fields (EMF) has been rumored to cause the following health hazards:
- Can cause Cancer
- Causes miscarriages and birth defects
- Downs Syndrome
- Liver defects
- Low weight at birth
- Heart defects
Again, there is no conclusive evidence that EMF causes the above health hazards. Studies that conclude a correlation between cancer and power lines did not specifically state the distance the EMF and the human need to be considered safe. It did not address the amount of exposure that deemed it to be dangerous and cause cancer. Many folks do not want to be test subjects and do not want to be open to the idea of buying a home near power lines. This holds true no matter how much of a discount they can get on their home purchase.
Deciding Buying Home Near Power Lines
Homebuyers who fall in love with a property that is next to power lines, do your research prior to pulling the trigger. Remember to take into consideration the resale value. Take into account that the market time to sell your home may be much longer than normal. Plan on taking a 20% reduction or more than the market value when selling. However, if you get a deal on the home purchase, then the discount on the sale of the home is already factored in. Contact the utility company in charge of the power lines. See if you can talk to a representative about scheduling an on-site EMF reading. The EMF levels may be minor where they may not need to be a concern. Speak with neighbors next to the subject property and see what type of research they did and what the results are.
October 6, 2021 - 3 min read