Does being across rom a park add value to a home?

Asked by The Hagley Group, Pleasanton, CA Sat Aug 18, 2007

I've heard both sides of this question. Curious as to your thoughts.....

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Pam Winterba…, Agent, Danville, VA
Sat Aug 18, 2007
Buying a property close or near a park or school is usually a positive thing. Accross the street can have problems....i.e. parking, traffic, noise, potential problems with drugs. Close but not across the street can have several deterrants. Good luck.
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0 votes
J R, , New York, NY
Sun Aug 19, 2007
If it's CENTRAL PARK, yes! If it's the local crack park, no! :) But as another poster said, you know this. I guess if the readers don't ask the questions we ask them ourselves?
3 votes
Deborah Madey, Agent, Brick, NJ
Sun Aug 19, 2007
Quiet parks that are well maintained are a plus. The pleasant park that is host to too many parties and ball games becomes a drawback for a seller and eliminates potential buyers from his/her pool, and detracts from the value of the home.

Does the park compliment the desired lifestyle of the buyer? The work at home professional who needs quiet for concentration or business phone calls will not find the boisterous laughter of children pleasant. to another, that sound may be music for the soul.

This is but only one perfect example of why Zillow and the like can never accurately define vaule from a computer thousands of miles away.
2 votes
Paul Slaybau…, Agent, Scottsdale, AZ
Sat Aug 18, 2007
You know better, Cindi! It depends! Depends on the type of park, size of the park, the target buyer, etc. If you have a property geared towards families, it will most likely be a plus. Provided that the swing sets and jungle gyms are not right next to your master bedroom window! And, of course, provided that it is not a run down drug infested cesspool of a park. If you have a 1 bedroom/ 1 bath condo that is geared to the single professional, I'm not thinking that a park will be a positive. Everyone likes buffer space from their neighbors, but sometimes it's not really a buffer (i.e. kids playing in the park). In AZ, lots that back to natural washes and open common area generally command higher values because there is not a lot of pedestrian activity. Pretty to look at too. Parks are a wildcard.
1 vote
Bruce Lynn, Agent, Coppell, TX
Mon Aug 20, 2007
Depends on the park? Is it a place where drug dealers and gangsters hang out. If so, there's a downside. What are the hours of the park? Is it open all night? Are there lights on the fields that might keep people awake? Is there any noise from the park? Some of those might be the downside.
Of course if it is well kept, low traffic, and a peaceful place to walk or play, then it could be a bonus.
0 votes
J Lo, Home Buyer, California Glory, Brentwood, CA
Sun Aug 19, 2007
Hi Cindi:
I agree that it depends on the neighborhood. Before I became a home owner, I thought it would be an idealic setting for raising children etc.

However, I opt for a little distance now rather than closer. Picnics, events, and parties (big ones with megaphones & lots of vehicular traffice) are not my cup of tea. I don't mind attending - I just don't want all that activity in my front yard...

So - I would say in the long run, when it comes time to sell your home years down the road and these problems manifest over time to be "major" I believe the value to the home would be in the negative.
0 votes
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