Newspaper article Daily News (Warwick, Australia)

Five Eyesores You Don't Want to Live Near

Newspaper article Daily News (Warwick, Australia)

Five Eyesores You Don't Want to Live Near

Article excerpt

By Carla Danaher

LIVING near a park, walking distance from a railway station or around the corner from a great cafe are sure fire ways to add value to your property, but what about features that are likely to detract from your home?

While some are universal - almost nobody wants to live next to a jail, or right near a sewerage farm - sometimes a property's potential detracting features can be attractive to another buyer.

Managing Director of property investment advisory firm Momentum Wealth, Damian Collins, says that a family with young children might baulk at living on a major busy road, but a young single living in a third-floor apartment with more noise protection might appreciate the convenience.

Similarly, living near a railway station, or a major suburban shopping centre might be a fantastic convenience, but living too close can prove to be a noise, traffic or parking problem.

There are, however, some common features that you should avoid, according to Collins, but if you do decide to take the plunge, he also outlines the average discount to expect compared to the suburb's average price.

High tension power lines

The debate has raged for many years about whether high tension power lines are a health risk. According to the Australian Radiation Protection and Nuclear Safety Agency, there is "no established evidence that exposure to magnetic fields from power lines or substations causes any health effects". However, it says the "possibility remains that prolonged exposure to higher than typical magnetic fields may increase the risk of leukaemia in children".

Despite this uncertainty, Collins says buyers won't take any risks.

"This (power lines) would be the absolute worst, not because they're necessarily an eyesore, but because of a perceived health risk," Collins says. "When it's something that people think might impact their health, even if there's still not a lot of evidence that it does."

Expected discount: 25%

Power substations

For the same reasons as the high tension power lines, Collins says it's wise to avoid buying a property near power substations. …

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