Important News and Techniques for Today's Real Estate Market

I am frequently confronted with this question, and have to answer that "yes, being directly adjacent to a retention pond can negatively affect a property's value". 

WHAT'S THE ISSUE?

The most common "problem" I hear potential buyers discussing related to retention ponds are about children safety concerns.  Small children will be drawn to the site like magnets, and unless the area is well protected, it could be a hazard.  You'll be able to guess the degree of the safety hazard based on how large, deep, etc the site is and whether it is fenced. 

The second most frequent complaint I hear about these ponds is that they draw insects. 

WAYS TO IMPROVE THE SITUATION IF YOU ARE SELLING

If you are selling a home that is directly adjacent to a retention pond, consider installing a privacy fence to secure your property and make it safer for the kids and pets who live there.  You may also want to plant some trees or shrubs that would act as a more attractive screen than a fence alone.

AM I CRAZY TO BUY A HOUSE NEXT TO A RETENTION POND?

The bottom line:  No, but be thoughtful about your purchase.  I would make sure that you are getting some fairly significant pricing concessions on the home when you purchase it (and by this, I mean that the property is priced under the average cost per square foot in the neighborhood), simply because there is a perception issue at hand, and that will eventually affect you on the resale of the property.  That means that future buyers will have the same concerns that you are having about the retention pond, and (in order to sell the home) you may need to be less expensive than the houses that are farther away from the pond.  

Also, if the house does not have the fence or "shrub border" blocking your VIEW and impeding your ACCESS to the retention pond, make sure that you budget for it at some during your ownership. 

Feel free to call or send an email if you have further questions about this subject. 

YOUR BIGGEST INVESTMENT IS OUR BIGGEST CONCERN!

Jackie