Real Estate Value question

[Oklahomabassin]

The neighbors house next to mine recently was purchased by the near by church to be torn down in a couple years to build a parking lot. I am looking for answers from folks in real estate who have experience in similar situations. I am also interested in opinions from people who have bought, or are currently looking to purchase a home.

Would a church parking lot directly next to a house lower the market value of the property?

Thanks

 

[SiGArmed]

I'd call up an appraiser and ask.

 

[Devon]

In my opinion..........

No, a church parking lot will not adversely affect the marketability of an adjoining residential property.

A church is a "special use" property, that is really only used two or three times per week (which should coincide with the time that you are at your own church). LOL

Churches tend to be good neighbors, mow regularly, maintain their property and are good for the community.

Besides the adjoining parking lot will give your kids a place to ride their bikes and play. Much safer than on the street.

 

[vvvvvvv]

Besides the adjoining parking lot will give your kids a place to ride their bikes and play.

Not necessarily. Some churches have rather strict insurance policies.

 

[rings]

Being the age group Im in and currently looking for a house, it wouldnt keep me from buying your house...however it wouldnt be my first choice either.

Now a bonus is extra parking for those football parties that Id hold on the weekends

 

[CODE_3]

My guess would be the church would be a commercial property so it would not be a comparable comp for a residential property.

 

[kd5rjz]

The church next to my house built a parking lot that takes up more than half a block. Now the city wants to buy my house for pennies on the dollar to build a drainage pond to compensate for the runoff. Good luck.

 

[761mph]

rezoning might come into play for the property in question
the area is probably zoned for single family dwellings and would need a change or at least a special use permit which should require a public hearing for the property owners close to the property

 

[cfw2000]

My experience has been that churches make good neighbors and their parking lot next door is a non-factor as far as impacting surrounding property values. A church parking lot next door is much more preferable to a neighbor who doesn't mow his yard, or fails to maintain his house, has loud parties, collects junker cars in his driveway, etc., etc. You get the picture - could be a lot worse.