We are purchasing a single family home for 205,000. On the same street are new condos and side by side homes. Will this affect our home value at all?

Asked by Newhome, Jackson, WI Wed Jan 13, 2010

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None, Agent, Summit, WI
Wed Jan 13, 2010
Condos and two-family homes can pull down the values of nearby single family homes. You can easily judge this by looking at what a similar home might go for in an area without nearby condos and two-families. A home not located by these types of buildings will most likely list and sell for a higher price.

An exception to this would be if the area is kind of a planned community, with multi-families and aparements on the outskirts, condos just inside and the single families holding the prime inner positions. These can be somewhat neutral in price due to the appeal of "community".

In the end, if you are buying this as a family home and not as an investment property you need to first look at what works for you and your family and its resale value second. If everything about the home "works" for you then go for it and enjoy your new home!
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Paul Spoerl, Agent, Appleton, WI
Wed Jan 13, 2010
The make up of a neighborhood does effect value. It is important to take into account the surrounding properties. The details you described could increase or decrease the value of the subject property. As stated below, if you are contracted to work with a "Buyers Agent", they are best suited to answer this question for you!

Good Luck!
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Dallas Texas, Agent, Dallas, TN
Wed Jan 13, 2010
You need to confer with your buyers agent,

What city? Assuming Jackson?
What street?
What is short / long term goal of area?
City planning for area?
What is value of these other homes?

No one can render and opinion UNLESS take inconsideration entire review plus more

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