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...if you knew an apartment complex is being built behind the home? Just wondering what folks out there think. We will be looking at a house this weekend that is not yet on the market with this scenario. It's a very desirable, upscale area located in a rural community - a home just sold 2 houses down from the one we are looking at for $540K. Other than that one there are no other houses on the market in this area.
I did go to town hall and spoke to the P&Z office. They showed me the plans for the complex, lansdcaping, etc. The apartments will be luxury apartments, constructed to look like colonial homes with garages and front porches. They are being constructed down hill from the home we are looking at and there is already a tree line that will block any view of the apartments. The landscaping plans call for a steep berm with more trees and landscaping that will further seperate the homes from the complex. The complex will have its own entrances and exits from the main road - so no traffic impact on the series of streets the homes are located on. The complex will also have some covenants in place...no pets allowed, no children in any of the 1 bedroom apartments and a max of 2 children in a 2 bedroom apartment. A 1 bedroom will rent for about $1500/month.
From our point of view we don't think the complex will bother us. We have friends who have lived for about 3 years in the "phase 1" portion of the complex already and they said that its very quite, nicely kept, etc. We drove through it and it is very nice looking and nicely kept. Our main concern is really resale in the future and anything else we aren't thinking of? Would appreciate other perspectives. Thank you!
Fast forward 10 years.
Will the next buyer want a home with an apt complex next door?
Scale it out...
how much of a buffer between the last structure there and your property line?
^This.
We didn't have luxury apartments behind us but my parents' backyard was up against a row of apartments. I hated it. We always had people watching us, throwing stuff in our backyard, yelling from their windows, etc. Very nice neighborhood but for some reason many people in these units were trashy. However, your situation sounds a little different. I think if there was more of a buffer (more space, more trees blocking the view of the backyard from their apartments), it wouldn't be that bad of a thing.
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Based on the facts you provided, the complex should not be a factor in your decision.
Also, don't worry about "what next buyer will think"
You only need one, and that will be someone like you. The house itself will be the focus, not the distant and invisible complex, which btw, will already be in place and most likely not even noticed.
Again, all this assuming the complex will be as you described, and the house and the area are as nice as you present.
Fast forward 10 years.
Will the next buyer want a home with an apt complex next door?
Scale it out...
how much of a buffer between the last structure there and your property line?
I Did - its 150 feet from the back edge of the property (so the property line, not the house) to the nearest apartment building....over a berm and down a hill so not directly behind the house.
Thanks everyone for the comments and considerations. This would be our "forever" house so we don't plan to sell anytime soon - pending any unforseen circumstances of course. The homes have been there about 10 years so the trees that were planted (white pines and spruce) at the time the houses were built already block the view. The link below is an example of the types of home in the neighborhood. The one we are looking at will be a little smaller than this one, will not have a pool or a finished basement...
And here is a rendering of what the apartments will look like...
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