A nursing home on the street - good or bad?

Viewing 4 posts - 1 through 4 (of 4 total)

Jdlakeland
Member
@jdlakeland
Join Date: 2013
Post Count: 1
March 16, 2013 - 3:53 am
My partner and I are looking at purchasing a property on a small no-through-road. The road itself is lovely, probably only 30-40 meters long, tree lined and in a great suburb. The only catch that I can see is that at the end of the street is an aged care facility. It's a big facility, but from the street, all you can see is an entrance and what looks to be some kind of admin building.
Is this likely to have a negative effect on the price of the property?
Thanks heaps for any advice!
Steve McKnight
Keymaster
@stevemcknight
Join Date: 2001
Post Count: 1,763
March 16, 2013 - 4:21 am
G'day!
Thanks for your post and welcome to the community.
You make an interesting post. Any chance you could take a photo and upload it? It is hard to get a sense of what it looks like.
In the meantime, I guess the issue is traffic flow. Do employees and visitors make it noisy and difficult to get in and out? If it is at the end of the street then there might be a lot of traffic coming and going, which could be a bummer.
When buying property, one of the important issues to think through is who is going to buy it off you. For this reason I suggest you think about the impact of the nursing home from their point of view.
In general, I think it is a slight negative.
Cheers,
– Steve
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com
Success comes from doing things differently
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
March 16, 2013 - 5:18 am
On the flip side, it could mean the street is lovely and quiet (nursing homes are not known for throwing rowdy parties as far as i know) which might be appealing to families…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
March 16, 2013 - 5:55 am
I live on a street with a retirement home at the start of it – it's similar to the one you've mentioned, a quiet tree lined street. We don't have an issue with traffic and the external part of the development is always nicely maintained.
Check out the street during a weekend as well – suss out if there's going to be an issue with traffic.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]