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How much would you guess that an "upscale rental community" of 4 plex - 2 bedroom units, would devalue a single family community, of single family homes. These apartments are sitting on land at the entrance to the single family home community.
The sing fam homes are adjacent to a golf course community, carry a good name, exemplary school district - with neighborhood school, large homes ranging from 2000 to 3600 sq ft... etc.
Havnt moved over yet,but wait till i do n have lived atleast 6 months cuz i will be doin lots n lots of research on property.
Property is what i plan to do down the track for a living , be it i study to become a broker , agent or get into the subdivison side to build i cant say yet , but it wont be something i do to service the public , i maybe i own a business n have staff they can deal with the public , i only want it for my personal gain at this stage.
Ive done my time dealing with the public now , did it for way to many years. So the question you have asked i guess is something i maybe looking into when im in the business of real estate.
I absolutely believe that apartments devalue land near and around residential areas. In So. California, crime is generally highest within areas with a high number of apartments. Often apartment renters are transient, have limited or fixed incomes, apartments are often occupied by single parents with children (often latch-key children), often apartments are occupied by young adults or groups of young adults (partying, noise, drinking, drugs, etc.). Vehicle thefts, burglary, assault, even murders are generally higher in areas with apartment complexes. At least, this is the way it is in many areas in So. California.
That being said, there are some wonderful old apartment buildings in many desirable areas, especially on the west side of Los Angeles and at the beach.
Personally, I would never buy a home that was even remotely close to apartment complexes.
How much would you guess that an "upscale rental community" of 4 plex - 2 bedroom units, would devalue a single family community, of single family homes. These apartments are sitting on land at the entrance to the single family home community.
The sing fam homes are adjacent to a golf course community, carry a good name, exemplary school district - with neighborhood school, large homes ranging from 2000 to 3600 sq ft... etc.
jwb123 I totally agree with you. Multi-story buildings, especially rentals will always attract people of a lower socio-economic status. Poor renters are by in large not as well behaved as richer homeowners. Just seeing those scoundrels in my neighborhood would make me think twice before buying there and if I already had property, I'd sell before the vandals attacked.
jwb123 hasn't posted in over two years so probably won't be reading your belated comment. Be cautious though in your apartment hunting right now as the new moon is on the rise which some believe brings out those scoundrels and vagrants in larger numbers than normal ...
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