Home Buying in 03110>Question Details

David G., Home Buyer in Bedford, NH

I am trying to buy a home that is next to large power lines and 2/3 of the properties 1.5 ac. is an easement. what decrease in value should we expect?

Asked by David G., Bedford, NH Tue Dec 14, 2010

On the purchase price and future resale. The property seems to be assessed the same as none abutors. Could i ask for an abatement on land and house value?

Help the community by answering this question:

Answers

4
Scott Godzyk’s answer
David you really need to ask your buyer broker to show you the difference in values for homes that abut power lines and those that which do not. In most cases it does affect the value, you will want to make sure the current price is priced lower than houses not abutting the lines. When you go to sell, you will probabily face the same factors, but as long you are getting a discount now and the house suits your needs, you need to be comfortable with what you are buying.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Dec 18, 2010
David,

There are a couple of things to consider here. Since there are power lines located on an easement, I personally (for valuation purposes as a buyer) would not consider the land on the easement as part of the property. In other words, pretend the lot is only a ~1/2 acre lot. Some may argue this is not correct, but it is a conservative approach as a buyer.

The other thing to consider is that some people don't like to live next to power lines so it could definitely limit the marketability of the home in the future if you try to resell.

In my opinion, the best thing to do if you definitely want to buy this home would be to find comps in the same area that are also next to the power lines. Feel free to contact me and I would be glad to put together a market report for you on the property and help you find some good comps to review.

If you do go through with the purchase, you can certainly attempt to get a tax abatement, but there are no guarantees so I personally think it would be better to factor everything into your purchase price up front and make sure you are not overpaying for the property.

Chris Lefebvre
eXp Realty
978-835-1776
Web Reference: http://teamlefebvre.net
0 votes Thank Flag Link Tue Dec 14, 2010
I would recommend contacting a licensed appraiser to assist you with the abatement process. Kristen Eldridge of Eldridge Appraisals at 279-5568 would be a candidate.
0 votes Thank Flag Link Tue Dec 14, 2010
What is your agent advising...In order to establish a value, one needs to be aware of recently sold similar properties in the immediate area, after reviewing the data, a determination can be made--keep in mind that assessed value, generally has no bearing on market value--as for resale, if purchasing the property at a lower value due to the mentioned issues, one can expect to sell for a bit less, if and when you do decide to move.
0 votes Thank Flag Link Tue Dec 14, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer