Home Buying in 92837>Question Details

Joel, Home Buyer in 94539

Does an Elderly Home care facility decrease the value of the property in a neighborhood?

Asked by Joel, 94539 Mon May 10, 2010

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14
I don't know why it would! In fact I would imagine it would raise the price because of the added security in the area. We just moved my mom into a senior care facility. I sure wouldn't have minded living close by! http://www.vancouverwa.comforcare.com/Services_Franchise_Home.aspx
0 votes Thank Flag Link Wed Nov 5, 2014
I don't think that it should be that big of a deal. I think that an elderly home care facility would be a good thing so that it would keep families close. I would see a negative effect to the community so I don't see a way it would effect your property value negatively. http://aboveandbeyond-homehealth.com/nampa-senior-home-care.html
0 votes Thank Flag Link Thu Oct 30, 2014
I would have to agree with you. If anything, the home values would go up if the senior care facilities are nicer. I think it would look really help the community out more than hurt it. I think it would also open up the area to new eyes that might be looking to move into the neighborhood. You never know!

Zach | http://www.vancouverwa.comforcare.com/Services_Franchise_Home.aspx
Flag Mon Nov 3, 2014
Hi Joel,

The value is often based more on a number of comparables, not on one particular property.

Kind regards,

Arpad
0 votes Thank Flag Link Wed Oct 29, 2014
That is a great question that I would love to have answered as well! I am also wondering what home care services are available to me in my area? Does anyone have any experience with any particular companies? About how much do they cost?

Mark LEach | http://comforcare.com/illinois/central-dupage
0 votes Thank Flag Link Wed Oct 29, 2014
I have found that only a few things usually decrease the value in a home. A care center usually wont. Things that will however are things like crime rate and disasters. If you can avoid those things I would highly recommend it. http://genacta.com/services/
0 votes Thank Flag Link Tue Oct 28, 2014
I don't think so. Not much crime is committed in or around these facilities. Senior care offers lots of good jobs for the surrounding neighborhood. I would say that it can only increase the value.
http://www.comforcare.com/illinois/mokena
0 votes Thank Flag Link Tue Oct 21, 2014
From the data I've seen converting properties or building elderly home care facilities does not decrease the value of surrounding property. The only way I could see this misconception taking hold is due to some unsavory developers or business owners setting up facilities in run-down neighborhoods where properties are generally cheaper.
0 votes Thank Flag Link Thu Aug 28, 2014
This question posted in May 2010.

However, it is timeless.
It is rumored there are a few more elderly living in Florida than in most other states.
What I have observed in both residential and high occupancy facilities that property values do not decrease.

When marketed as "aging in place" locations, those SFH in the area actually will increase in value BECAUSE the area creates more knowledgeable buyers.

OF worthy note is how these locations endured the 2008-2011 crash.

DISCLAIMER: if the community is prone to abandoned shopping carts, values will go down.
0 votes Thank Flag Link Mon Aug 4, 2014
It's interesting that senior care communities can actually increase the value of an area. Like Joel, I thought they would decrease the value. It makes sense, however, that it would create more informed buyers, which would in turn increase the value of the area. Thank you for explaining this process in such a clear way! http://www.comforcare.com/massachusetts/winchester-woburn
Flag Fri Aug 22, 2014
I would think that it would be pleasant to have that as an option. Though personally, I'll hope for an in-home care service when I'm older. I'd prefer to stay where I've always been. This is assuming I don't need constant care. I think that moving into a place with that in the neighborhood would be great! Don't hesitate. http://glenparkhealthyliving.com/what-is-in-home-care/
0 votes Thank Flag Link Wed Jul 16, 2014
Not to my knowledge.

Kawain Payne, Realtor
0 votes Thank Flag Link Tue Jul 8, 2014
I have sold multiple homes which were then converted into Senior Living Facilities. For the most part - and this is based on real data - the intrinsic value of the neighborhood did not change at all due to these sales.

The appearance does not change much - and zoning laws - occupancy rate laws - really preclude the home from having a major impact on the surrounding neighborhood.

This is becoming very popular with the aging population in America. We will start to see more community homes and assisted living on a smaller scale.
Web Reference: http://www.HomeSoldTeam.com
0 votes Thank Flag Link Sun Sep 19, 2010
I'd like to think not but some I've seen probably do. It depends on the external appearance, size, and traffic it generates just like any neighborhood business or nuisuance. Here's the quick litmus test:

Do visitors ask "What is that?" or "What's going on down there"

If they ask, you can bet it has caught their eye and some people will undoubtedly not be excited about it.

If they never ask, it probably blends in enough to not be a disturbance, thus no negative effect on value.
0 votes Thank Flag Link Mon May 10, 2010
I agree with Connie. I don't think it would affect property values unless there is a lot of traffic, meaning a lot of people coming and going and parking problems. I know of a couple of elder residential care housing in Garden Grove, but as far as I know there are no problems with it and it affecting the surrounding properties.
0 votes Thank Flag Link Mon May 10, 2010
I agree with Willy, I think that an elderly home would not change a home's value. I don't see this being as much of an issue in the future as many people are choosing home care services instead. This wouldn't affect a home's value much either.
http://www.helpinghandhospice.com
Flag Thu Oct 30, 2014
Hi Joel,
Are you talking about the small ones that just have people living in a home within the neighborhood? Most likely not at all. Unless there are constantly people coming and going and crowding up the street so there is no parking. I can't think of any reason a buyer would have a problem with a house being used in that manor as long as it was taken care of as well as the other homes in the area are. Are you having trouble with one in yuor neighborhood?
Connie Bramble
Prudential CA Realty
714-337-8718
0 votes Thank Flag Link Mon May 10, 2010
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