Property Q&A in New York>Question Details

EZ, Home Buyer in New York

a hotel is building near my house will it decrease the value of my home ? behind my house

Asked by EZ, New York Thu Feb 23, 2012

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Answers

8
Behind your house? Yup. I would have to say it would. A hotel is a hotel.. expensive or hourly, there will be cars, traffic, people, exhaust.. all that.

But, I also do not know what your particulars are here, will you be able to read the license plates? Is it three football fields away? A parking lot? A burm being built? Fence? what ? In general, I would revert to the above.
1 vote Thank Flag Link Thu Feb 23, 2012
"If it is an upscale hotel and with nice restaraunts and shops, it will probably have a positive impact on the area and your property will increase in value over the time"

Really? Taking the sun in your back yard while "upscale" hotel patrons watch you, the exhaust from "upsacle" cars, the smell of breakfast, lunch and diner being cooked.,sometmes burnt, potential garbage and noise pollution is a positive impact? Really?

Come on people. I feel for this person also.. but making a diamond out of a lump of coal is a stretch.
0 votes Thank Flag Link Mon Feb 27, 2012
If it is an upscale hotel and with nice restaraunts and shops, it will probably have a positive impact on the area and your property will increase in value over the time. One need to have more info on where the entrance to the hotel will be realtive to your house, where the parking will be...to figure if it may have any negative impact, or block your views, increase the noise level, etc...
0 votes Thank Flag Link Mon Feb 27, 2012
Depending on the variables it may be a pro or a con.
0 votes Thank Flag Link Thu Feb 23, 2012
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
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It is realy unsure about it, depends on the area your house located, Is your living area both commercial and residencial?
0 votes Thank Flag Link Thu Feb 23, 2012
EZ,
It really depends upon the type of hotel. If it is very upscale, it may be a very good thing. It may be a sign that your neighborhood is developing and property values going up. It's too hard to say without knowing more particulars about where you live and what the character of the neighborhood is.
0 votes Thank Flag Link Thu Feb 23, 2012
Too many unknowns to answer this well. But consider visiting your local building department to learn more about the construction and it's impact on you.
0 votes Thank Flag Link Thu Feb 23, 2012
That really depends on the contruction efforts, traffic and whether it will interfer with your current view. Ultimately, it will help your neighborhood. Mainly because a hotel would be considered "highest and best use" for the neighboring property in question. This will help appreciate the value of surrounding properties.
0 votes Thank Flag Link Thu Feb 23, 2012
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