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Is a lot backing to a park a good location to build a new home?

We are thinking about building a new home on a lot that backs to a park district property which is going to be developed in the future as a park. Is this a good location?
Fri May 9 2008, 08:45 - All locations - Home Buying - 4 answers
 
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Amber Fields
Home Buyer
in Aurora
Amber Fields, Home Buyer in Aurora in Aurora
Answers (4)
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Sherri Bond was FIRST TO ANSWER
I just found out that the proposed plan for the park is either a soccer field or a sleding hill. Also half the park area is actually a natural wetland area.

Fri May 9 2008, 10:19
 
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I would do some checking first with the city planning the park. If the park was already in and you could see what kind of activity was going on, then you could make a more informed desicion. Some parks have late night basketball and volleyball and that could be very noisy and who knows what else.

Fri May 9 2008, 09:23
 
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Green is good. But all real estate is local. "Gonna be park" is not as good as an existing public park. Do your due diligence on the park and the property. In Tennessee a park site would be a real plus. DAVE

Fri May 9 2008, 09:11
 
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FIRST ANSWER
From a resale point backing to a park, open space or greenbelt is a plus and adds approximately $10,000 to the value of a home. You should however, make sure that the park/home is not located in a flood plain or that it will have overhead utility easements, as this will de-value the property. Above all else, you should ALWAYS make sure you have a Buyer's Agent (Realtor) to represent you when you are working with a Builder. It is important to remember that the Builder is the Seller and he is looking out for his best interests, not yours. A Buyer's Agent respresents your best interests and negotiates on your behalf plus their services are FREE so there is no reason no to use one of us!

Fri May 9 2008, 08:52
 
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