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Answers (3)
- Pasadenan
- Contributions:21466
It will partially depend on Zoning, and whether it increases walkability to store, transit, and other amenities.
It also depends on how much traffic they are planning on funneling in front of your house.
I don't think there are any specific studies that will give you a dollar figure or a percentage. It could be as much as a 30% drop, or as much as a 20% rise.
My "guess" from the description given only is a 15% drop. (Not including any drop already anticipated for the still occurring bubble correction).
By the way, if the road and city entrance is already planned, you would not be able to withhold that information, so likely the price is already going to be affected. But as the actual impacts are not known, the speculation factors and how it affects specific offers will differ from the actual impacts and future value.
It also depends on how much traffic they are planning on funneling in front of your house.
I don't think there are any specific studies that will give you a dollar figure or a percentage. It could be as much as a 30% drop, or as much as a 20% rise.
My "guess" from the description given only is a 15% drop. (Not including any drop already anticipated for the still occurring bubble correction).
By the way, if the road and city entrance is already planned, you would not be able to withhold that information, so likely the price is already going to be affected. But as the actual impacts are not known, the speculation factors and how it affects specific offers will differ from the actual impacts and future value.
- Julia Marcyes, "JuliaSellsHomes"
- Contributions:269
If it's actually a second 'main' entrance to the city, then it will likely devalue your property. However, if it is a certainty (decision already made by the powers-that-be) then you will have to disclose the pending change since it affects the property and that will likely afftect the value a bit anyway. So the question would then be... 'will my quality of life at this home be affected negatively or positively by this change and will I want to stay here regardless of what happens to my homes value?'
- Alex Zeng, "MLSUnlimited"
- Contributions:7
It depends on how much traffic the new road will bring. It is the noise factor. it could be worse if it brings foot traffic. But yes, overall it will hurt the value in your area, but not by much.
does a new road to a dead end area add or decrease value of properties
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