This guide covers buying house next to power lines. 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.
How Buying House Next To Power Lines Affect Property Value
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.
Benefits of Buying House Next to Power Lines
Buying a house located next to power lines is a decision that comes with both advantages and potential disadvantages. In this guide on buying house next to power lines, we will discuss some factors to consider before making such a purchase. The biggest advantage of buying house next to power lines is lower property values. Houses near power lines often have lower asking prices compared to similar properties in different locations, which may make them more affordable.
Convenient Access to Electricity
You may experience fewer power outages or interruptions in electrical service due to your proximity to power lines, which can be an advantage. There is less noise and traffic buying house next to power lines. Power line corridors tend to have less noise and traffic than busy streets or commercial areas.
Health Concerns Buying House Next Power Lines
Health Concerns is a negative. There has been ongoing debate about the health risks associated with prolonged exposure to electromagnetic fields (EMFs) generated by power lines. Studies suggest a link between EMFs and health issues, although this remains a topic of scientific discussion.
Power lines and their associated infrastructure can be visually unappealing and may affect the property’s overall aesthetics. This can be subjective but may impact your enjoyment of the property.
Reduced property value is a major concern of buying house next to power lines. Many potential buyers may hesitate to purchase a property near power lines due to health, aesthetics, or superstitious concerns. As a result, reselling the property or getting a good return on your investment could be more challenging.
Potential Easements and Difficulty With Financing
Power companies may have easement rights that allow them access to the area around power lines for maintenance and repairs. This could limit your use of the land near the power lines. Difficulty with Financing: Some lenders may hesitate to be more open to providing mortgages for properties near power lines, making it harder to secure financing.
It’s also a good idea to consult with a real estate agent, property inspector, or even a health expert to get more information about the specific situation and location you are considering.
Before buying a house near power lines, it’s essential to research and consider these factors carefully. Check local regulations and zoning laws that might affect your ability to build or modify structures on the property. Ultimately, make an informed decision based on your priorities and the potential benefits and drawbacks of the property.
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.
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.
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. 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 Buying House Next To 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 Next To 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.