Homesteading Forum banner

1 - 5 of 5 Posts

·
Premium Member
Joined
·
4,785 Posts
Discussion Starter · #1 ·
As far as I can tell my area hasn't been affected much by the housing slow down. The closet town that I live by (10-15 min) is putting in 300-400 homes this year with another 700 or so in the works (small town, population around 4500). All of them were sold before they were even built and they sold fast. At the bottom of my property (across the highway and down a bit), two small subdivisions are also in the works (13 homes on the left, 15 or so homes to the right). We also are either getting a Walmart or another large but more local type store in a year or so. The larger town over is a very desirable place to live (20-30 min.).

My question is about funding that just was passed to fund a minimum security prison and state mental hospital about 9 miles away from me. It said that it would provide 2,000 jobs when it was finished but we are trying to decide if it would be good or bad for our property value? We are thinking that we will sell at some point (maybe, we go back and forth, we are good for now) and am very curious??? The paper said that one wasn't going to start building until 2010 and the other 2011 so maybe it doesn't matter???
 

·
Registered
Joined
·
11,751 Posts
It's always good for an area if there is a place to work. You're also talking about 9 miles away...

I would not concern myself about a prison, esp. mimimum security. You know the old joke - the most secure place to live is next to a prison.

As far as a mental hospital, that's no issue either. I used to work in one & felt pretty safe. No excapees.
 

·
Registered
Joined
·
11,511 Posts
Property valuse is more than just the value on a piece of land. Jobs in the area doesn't hurt anything. If they use it as a minimum security prison and a mential hospital will not lesen the value on your property. The more jobs in the area would compinace the diference. That is a good selling point to bring up. You will be surprised at the people that want to be their. The adition of a wal mart is good for the econimy for the first few years of buisness.
 

·
Premium Member
Joined
·
4,785 Posts
Discussion Starter · #4 ·
My first thought was that it would be good for property value. Like Wolf Mom said, it is 9 miles away. But then I thought maybe someone wouldn't want to live out where the prison/hospital was and it would be a bad thing. Those 2,000 people have to live somewhere though! Anyhoo, thank you both for your responses :)
 

·
Registered
Joined
·
742 Posts
A prison is going in at the small town next to us and property values are going up. There is also more development like fast food, wal-mart, etc. in anticipation of people visiting inmates.
 
1 - 5 of 5 Posts
Top