What is the typical impact on the price of a house if an electricity substation is next to the property?
Asked on Apr 22 2013,
House Prices in Saffron Walden |
Okay. The were some health scares about pylons and substations that haven’t been particularly proved one way or the other as far as I know.
Some people actually want being near to a substation because it is a quite neighbour. Obviously, if you got a house next door, you could have problems with neighbours and so on.
With substation, you won’t. So there is this slight benefit there.
Depends on the size, and also how visible it is.
So, if it is one that’s got a nice brick wall around it or it is in a sort of detached building for example, sometimes they sort of camouflage them to look like houses, it really won’t have very much impact at all, but if it is a big grey steel box humming away day and night right next door, then it will do.
It would probably be something in the region of about 10% to 15% off the normal market value for a property like that, very much just a rule of thumb then.
Also, bear in mind that the surveyor who values the property for your potential buyer when you come to resell the property is going to have to comment on the fact that it is there and also may make the potential buyer aware of the fact that there were these health issues connected with substations in the past.
So, that may deter some buyers. So, even if it doesn’t have a huge effect on the value, it may make the property slightly more difficult to sell.
So, as long as you are aware of that, you should just go ahead.
Web reference: http://housebuyfast.co.uk/blog/choosing-the-right-estate-...
Answered on Sep 24 2013,
Didn't find what you were looking for? Ask a question
More House Prices in Saffron Walden questions on AskMe
See more AskMe Q&A about House Prices