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Wednesday, June 1, 2011

Home Values vs Wind Turbines

Regional | by Travis Pedwell  

Realtor warns wind turbines will have a negative impact on property values.


Wind Turbines are having a serious effect on house values in Grey County and would do the same in Huron County.

This from Grey County realtor Mike McMurray at the Community Forum on Wind Development in Goderich held on Monday.

McMurray tells Bayshore Broadcasting News it's hard to put a value on house depreciation but says it can bring down a home's value by 25 to 40 per cent.

He says the depreciation stays at 25 to 40 per cent as far as two miles away from the house.

McMurray adds if a home is in an area where people are looking for recreational or desirable residential property the house may not have any market value.

McMurray notes he sympathizes with those who have built homes and have had turbines placed in their backyards.

He tells us most people he deals with wish they had never got involved with turbines.

McMurray tells us there have been several cases when someone from Toronto wants to relocate and must look elsewhere because of potential wind development.

He says his experience shows wind development pits neighbour against neighbour.

McMurray notes among other things - the biggest concern he hears from potential buyers are the health effects.

He says nobody wants to look out at the turbines all day and have flashing lights come through the windows at night.

McMurray adds many potential buyers will stay away from areas of wind development.

He says he has encountered residents who don't mind turbines but adds only farmers on marginal properties see them as a way of survival.

 

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