My husband and I bought our home about a year ago. It's on the edge of Williamsburg...far enough out to be nice and quite and close enough to do the things we need to do in town. It's in a great neighborhood and the surrounding area is nice, a grocery store, post office...
However, now they are buliding an apartment complex about a mile from my home. It's on a main road (we are OFF of that road, back in a subdivision). Does anyone know if this will affect our property value?
2006-06-19 15:27:56 · 4 answers · asked by yogazen 4 in Home & Garden ➔ Other - Home & Garden
They appear to be very nice apartments!
2006-06-19 15:44:23 · update #1
Depends, will they be nice apartments that attract more people to your area, thereby increasing demand? If so, then as demand goes up to live in such a nice locale, people might pay more to live there and your property values may go up.
However, if it is subisidized government houseing, or college student apartments, then you should MOVE immediately! Apartments with low income people will negatively impact your property values because nobody will want to live near them unless they are poor and have no choice.
2006-06-19 15:37:50 · answer #1 · answered by ron49er2000 2 · 3⤊ 1⤋
A mile away shouldn't hurt you
2006-06-19 15:33:20 · answer #2 · answered by Dave B 1 · 0⤊ 0⤋
call your county tax and property value ask them they should know
2006-06-19 15:40:43 · answer #3 · answered by ? 3 · 0⤊ 0⤋
your taxes are going to go up
2006-06-19 15:31:03 · answer #4 · answered by fadded 5 · 0⤊ 0⤋