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Answers (11)
- Jay Agoado, "jaysellshm"
- Contributions:218
I always look at these issues with regard to resale value. I can tell you that a certain percentage of the market would never purchase a home next to a retention pond because they are unsightly during the dry months. On the flip side, some buyers like them because of the privacy factor. You know that there will never be a home constructed on that site. There can also be potential odor and mosquito issues. Every pond is different. Walk the neighborhood and ask the homeowners about the pond.
- Laura McKenna, "LauraMcKennaHomes"
- Contributions:27
I agree with Wes Black; talk to the neighbors. Also the town should have a lot of information in a file. There may be local professionals such as electricians, builders, plumbers who are familiar with the neighborhood and may give you some insight as well.
This is the type of property that you need to do a lot of research before making a decision. Good luck!
This is the type of property that you need to do a lot of research before making a decision. Good luck!
- Janeece Smith, "klickitatcountyland"
- Contributions:27
you should alsways do your homework on any property with water that can indanger the land or home you are purchasing. I would also check into flooding from the pond and surrounding area's from goverment sites and maybe the local libary which most are online now. Ad well as the other suggestions made.... Good luck in your venture, Pretty home, I see why you like it.... Ask about the bugs from the water....
- Wes Black
- Contributions:509
An issue likes this takes thorough investigation before leaping into a purchase contract.
- Seth Captain, "CaptainSeth"
- Contributions:142
I hope you recognize the peril of this question, as one who doesn't read the smaller print may simply answer an obvious "Yes". Because what seller having an issue with water retention wouldn't be equally difficult when it came to pricing their house?
- Wes Black
- Contributions:509
You should be very cautious and find out as much as you can from the neighbors.
- ConnieK_ppm
- Contributions:97
I would agree that your best information will come from a LOCAL source. For the most part, the presence of a pond often adds to the desirability. But if you want to know some specfiics you should check with the HOA. I had a customer last year that fell in love with a house BECAUSE it overlooked the watershed pond. We checked with the HOA and found out that there was a major issue with the construction of the spillway and the engineering firm estimate to correct it was $700k, there have been monthly meetings and meetings with the city to plan a solution, looks like a special assessment will be attached to the homes in the neighborhood if the HOA doesn't cover it. First time I'd ever heard of such an issue. (think it's still unsresolved)
so if there is a problem with the pond- the cost to repair the problem might be a concern, if there is no problem with the pond it can be a beautiful thing to view from your patio. FIND out from the HOA, the city and so on before proceeding. In this case the problem wasn't an issue for this house (no risk of flooding this house) but it was an issue for the neighborhood.- so it was an expense for the neighborhood (HOA neighborhood with private streets, private pond, greenbelt, park etc- so private expense to solve issue).
so if there is a problem with the pond- the cost to repair the problem might be a concern, if there is no problem with the pond it can be a beautiful thing to view from your patio. FIND out from the HOA, the city and so on before proceeding. In this case the problem wasn't an issue for this house (no risk of flooding this house) but it was an issue for the neighborhood.- so it was an expense for the neighborhood (HOA neighborhood with private streets, private pond, greenbelt, park etc- so private expense to solve issue).
- Dan, "the_country_hick"
- Contributions:4694
Is there a possibility the dam could break and wash the house away?
If not it is just a nice neighbor. If that would be possible be very cautious. There are a lot of old dams that are substandard in this country. Some do break and lose water once in awhile.
If not it is just a nice neighbor. If that would be possible be very cautious. There are a lot of old dams that are substandard in this country. Some do break and lose water once in awhile.
- Derek Rotzinger, "Derek Rotzinger"
- Contributions:31
Obviously having a big water retention pond isn't the most ideal neighbor to have so it's possible it may affect the value. Once in escrow, you will receive reports on the area along with any hazards in may bring. Most all of San Diego is located in an earthquake hazardous zone, but does that affect home prices? Possibly, but other factors increase it at the same time.
Vince has a good suggestion of talking with some people that live near by.
Vince has a good suggestion of talking with some people that live near by.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Of course, any water issue like that MAY. Per your map, there may be some type of issue. Consult a LOCAL expert or two in the area, knock on neighbors doors and ask, consult an geological inspection service and/or physical inspection service, and find out more from the builder themselves, as well as local Realtors who have sold in the area. The best is from neighbors, though, they will always tell the real scoop.
- ConnieK_ppm
- Contributions:97
Is it downhill of the spillway or something?
Does water retention impact the house price?
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