03-04-2010 02:29 PM
I wouldn't rule out a house just because of that, no. I don't think it's a value-added feature by any means, but there are certainly worse things to be next to.
The house would have to be one I'd have no doubt would sell easily if it were located in a normal residential block. If the house has other big negatives that can't be fixed (like that tiny backyard, unless it's standard for the area), an adjacent cemetery would probably cost the home more perceived value than the same negative somewhere else. I'd think you'd get less return on improvements too, so I'd be wary about sinking large sums of money into remodeling. The value of the land will put a tight cap on the value of the property.
Like others have said, it would also have to be the right kind of cemetery. One that is serene and well-maintained wouldn't turn me off. One that I thought would be very busy (e.g., frequent vehicular traffic, noisy earth-movers) or would attract night-time beer and pot fests by local delinquents would send me running.
03-08-2010 11:39 AM
03-09-2010 05:54 PM
Back to the Question: Is it a negative for a house to be right next to a cemetery?
I think everyone's responses, regardless of whether they would consider the house or not, all lead to the same objective answer. It IS a negative and the house IS less valuable next to a cemetery, end of story. The question is simply how much. It probably wouldn't hurt to give a couple of local realtors a call and get their opinion on what the percentage hit a house takes for being next to a cemetery. Maybe it's 5%, maybe it's 15%, I just don't know.
That's not to say you shouldn't consider buying the house. On the contrary, if you don't mind, you might be able to get a much nicer home/yard for a lower $/sq ft. If you plan to stay there, then it's a great deal.
If you believe it's not your final destination (pun intended), then you need consider that it will likely take longer to resell and it will likely be at a reduced price from other houses in the same town.
Having said all that, for the record, I also fall into the bucket of immediately crossing off a house that's next to a cemetery, a highway, electrical lines, prisons, etc. I'm typically interested in making sure I can offload a house quickly if the case were ever to arise (knock on wood it hasn't!). I want to make sure that the property appeals to the widest range of potential buyers. And ultimately, the biggest selling point for a house, isn't the house, it's...(yep)...location, location, location...
Again, if you plan on staying there, all of this discussion is irrelevant. All that matters is whether YOU care or not!! Good luck!
03-10-2010 11:17 AM
Metallica: "I think everyone's responses, regardless of whether they would consider the house or not, all lead to the same objective answer. It IS a negative and the house IS less valuable next to a cemetery, end of story. The question is simply how much."
wait a doggone minute, there. the OP also asked if anyone would buy a house near a cemetery and i distinctly replied that i would, 100%-YES!, buy a house near a cemetery. both you and the OP, for whatever reason, are leaning toward nay-sayers when that should not be the case because, so far, the answers to that question are pretty much equal on both sides.
i feel that the negativity you both mention is a falsely implied negative. do you have any data to show that homes near cemeteries have often sold lower than comparable properties not near cemeteries?
and maybe the OP is considering selling the house.
03-10-2010 12:09 PM
I'm not sure why it matters if the OP is buying or selling the house? The opinion/facts should be the same, correct?
Data. That's a fair question. I don't have any data. I also definitely think it'd be worth trying to gather, but I think you just also proved the point...Your quote: "so far, the answers to that question are pretty much equal on both sides"
Exactly! If I asked, "Would you consider buying a house in a regular ol' neighborhood?", do you think the answer would be equal on both sides (yes and no)? Certainly not. I would think that most people would respond that they would consider buying a house in a regular ol' neighborhood. Remember, we're not talking about whether or not anybody would buy it. Sure, people would buy it. There's no question. The question is whether or not the resell is similar to a house away from a cemetery. I just don't see how anyone can argue it is.
Just for the heck of it, I called my realtor to get her opinion. While she wasn't sure exactly the % impact of being next to a cemetery, she said it instantaneously reduces the number of buyers. To avoid conflict I won't mention them, but she specified that there are certain ethnicities that won't even LOOK at the house if it's next to a cemetery for religious/cultural reasons. If you are reducing your buyer pool, you are reducing demand. Reducing demand reduces resale value and increases resale time.
The only way to offset that is if you found a different sector of buyers who actually increase the likelihood they would look at a house next to a cemetery. If that segment of buyers exist, I am unaware of them.
Having said all that, it all comes down to the right person at the right time. There's nothing to say you can't find the right buyer in any market (heck there are still a number of houses going for over asking!!!). I'm just saying the chances of that happening are lower.
03-10-2010 12:20 PM
I actually just thought of something fairly important. Even if being next to a cemetery means that value is lower, it sounds like this is an existing structure. With that being said, there's nothing "new" to the value of the home. It should already be priced in when you buy the house (i.e. maybe there's a 5% discount from other comps that are not next to a cemetery). Assuming that's the case and they're not pricing it the same as a house that's not next to a cemetery, then all you need to consider is resale time...which of course does go back to having a reduced buyer pool...
Remember there are always other things to consider (not just zombies). For instance, like living next to a school, or a plaza, there is increased vehicle traffic and increased foot traffic. It may not be drunks but there are still constant strangers that are walking through your backyard, etc. (similar to living on a golf course, except I don't recommend teeing up on grandma's plot!)
Another important point...no place is perfect...