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Thread: Residential property value change

  1. #1
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    Residential property value change

    An abutting neighbor in a residentially zoned development wants to start a "studio rental" unit above his garage. He claims this will increase my property value because his property value is increased. I disagree...don't want strangers in our neighborhood and what's to say that it won't open other "right to use" situations in the future. Hearing is Monday, March 8 with zoning board. Need some facts and can't find much addressing this specific issue on the web. Thanks

  2. #2
    OH....IO Hink's avatar
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    I don't know that anyone here is going to be able to tell you for sure that the value will go up or down. I would guess you could get an independent auditor to come and give his/her opinion. That is really the only way to get a fair value.

    If you area is zoned to have multiple family homes, or apartment/condo's you might be out of luck. Even though you don't want "strangers" if they pay to live there, they have as much of a right to be there as you. I would stay away from the strangers argument and stick with the value argument, assuming the audit shows a negative impact.
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  3. #3
    Cyburbian Raf's avatar
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    As HP said, an appraiser would be able to potentially determine if you property value increases, but as for the use you might be SOL, if your municipality or state is similar to mine where a second unit is allowed by right on single family residential property.
    Men do dumb $hit... it is what they do to correct the problem that counts.

  4. #4
    Cyburbian ColoGI's avatar
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    Quote Originally posted by lowepa View post
    I disagree...don't want strangers in our neighborhood and what's to say that it won't open other "right to use" situations in the future.
    I'm not sure how this supports your assertion or negates the neighbor's assertion. Wants are one thing, laws are another, real estate economics yet another.

    Nonetheless, if it is a use by right or permitted use, your neighbor has property rights too, just like you do. You'll want to look up your municipal code on-line and see if it is permitted in that zone. If it is, you can go to the hearing and voice your opinion and fears. If it is not, you can go to the hearing and voice the facts.

    Either way, keep it short and sweet and stick to the topic so you look like a rational, informed neighbor. That is how you want to come across. Nothing else. Property rights go both ways and maybe the neighbor needs the money.


    HTH.

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