Does Property Value Next to Cemetery Differ?

Does Property Value Next to Cemetery Differ

Location matters… but a cemetery might not

“Location” is more than just a catchy phrase in real estate. Research from The Appraisal Journal, the peer-reviewed journal of the skilled Association The Appraisal Institute of Chicago, Illinois, shows that a view of the ocean and the proximity of a golf course increase property values. Access to shopping, public transportation, and schools is also a factor that can push the value of homes.

Additionally, other local factors could lower the price including noise from highways and cell phone towers freight rail lines, as well as the proximity of a registered sexual offender The Appraisal Institute says.

There are approximately 150,000 graveyards, cemeteries and graveyards in the surrounding United States, cemeteries don’t automatically count as a plus or disadvantage when you are selling your house.

“A cemetery doesn’t really affect value,” said John Huston, a skillful appraiser from St. Petersburg, Florida, which covers the three counties of St. Petersburg and appraised more than 3,800 properties since 1999. There is no health or safety issue, for example, like proximity to a gasoline station or a gas station, which Huston says he will record on the Uniform Appraisal Report that is required for FHA loans because gas stations contain hazardous liquids.

But, value differs from price. “Value is what the market decides. Price is what a person will pay,” Huston said.

Cemeteries affect prices with other factors.

In a study of 575 single-family home sales within close proximity of four cemeteries in Greene County, Ohio, researchers from The Appraisal Journal found that cemeteries, in general, had no impact on home values.

The researchers examined four homes that were sold in close proximity to different cemeteries. In one sample, homes with views of the cemetery were sold at greater costs, 8.8 percent more than the median, and the homes in a different sample were sold at less (about 10.1 percent below the average).

The two other samples did not show any effects, and they concluded there could be other variables that influence pricing that go beyond the view of the cemetery. The sample with the highest prices was the highest For instance, houses were newly constructed (built in the late 1990s) More were basement-equipped, and all homes were air-conditioned, and a forest of deciduous trees formed a buffer between the houses as well as the graveyard. The cemetery was also maintained, like the study.

In the neighborhood around the cemetery, where prices fell, most houses were single-story tract homes built in the 1950s. There were no houses with basements. The study stated that the care of the graveyard “can generously be described as moderate/average.”

While selling a house near a cemetery does not require the same amount of disclosure or consideration in handling “haunted” or stigmatized property (such as one that was involved in an incident) however, investigators have been exploring the impact of a cemetery on the value of a house.

One study that examined homes for sale near cemeteries in 90 metropolitan areas revealed that homes located less than 50 feet from the cemetery remained on the market for 11 more days and were sold for around $17 per square foot.

More houses with cemeteries in the oldest cities

There are several areas in which the East Coast and the South are likely to have the largest number of houses for sale near cemeteries, possibly due to the founding of the American colonies, as well as battles that were fought during of the Revolutionary War and Civil War. These comprise:

  • New York
  • Mississippi
  • Kentucky
  • Pennsylvania
  • Massachusetts
  • Georgia
  • Tennessee
  • Virginia

Colma, a San Francisco Bay Area town of Colma, California, tends to have a huge number of cemeteries. They call Colma itself” the City of Souls.” It is estimated that 1.5 million are buried in Colma, in part due to Cypress Lawn Funeral Home and Memorial Park, founded in 1892. It is considerably larger than the 1,514 inhabitants.

However, if you’re worried that no one will snub your list, think about the benefits of being near the cemetery.

  • Cemeteries are a green space where people can walk or do other forms of exercise. In the 1800s they were the nearest thing that people had to parks, writer Troy Taylor said in The Chicago Tribune.
  • Researchers claim that cemeteries typically aren’t impacted by commercial or residential development, and therefore, those living close to them are “fairly certain” they’ll have the benefit of a “relatively open vista.”
  • Cemeteries are quiet, apart from the commotion of employees and visitors. (Kasprisin frequently makes remarks about “quiet neighbors” if he establishes rapport with potential buyers and is confident that they’d appreciate humorous remarks).

Some buyers may appreciate the historical connection. Woodlawn Cemetery and Conservancy in the Bronx is one example. It is a national landmark that has a memorial to the memory of the victims of the Titanic and the graves of leaders in civic life as well as artists, architects, and musicians, including Miles Davis, Duke Ellington, Elizabeth Cady Stanton, and Irving Berlin. Revolutionary War midnight rider Paul Revere and three other signers of the Declaration of Independence are buried at the Granary Burying Ground in Boston, Massachusetts.

Film and literature enthusiasts may be interested in the close proximity of Bonaventure Cemetery in Savannah, Georgia, the subject of John Berendt’s novel Midnight in the Garden of Good and Evil, and St. Louis Cemetery No. 1 in New Orleans, Louisiana, which is located above ground and was featured in the movie Easy Rider.

Focus on amenities

However, even if your house is situated near a cemetery of historic significance, experts in real estate recommend not making a statement based on this particular aspect. Buyers can find the exact location on the internet, but it’s the agent’s responsibility to highlight what the house can offer buyers.

Kasprisin has recently closed on a house built in the 1970s in Joliet in Joliet, where the backyard was close to the cemetery. He shared these suggestions for selling a home near a cemetery

  • Highlight the best features.
    In this home, Kasprisin focused on the desirable cul-de-sac as well as the meticulously designed landscaping and the modernization of the master bathroom. “You did not really think about that you could see the mausoleum or crematoria that is behind us. This is just an excellent spot,” he said.
  • Recognize the place
    Regarding the place, even though it’s not the only topic you’ll discuss don’t minimize it either. Be truthful about it. “It is what it is,” Kasprisin stated. “It’s similar to an unintentional pool. It’s either you’ll like it or you won’t. If there’s more good stuff in the book, and you could be interested, my job is to help you get through it.”
  • Make use of levity in a responsible manner.
    Even though you could make light of the area with your relatives and friends, Kasprisin said he does this only if he believes the buyers are really interested. Otherwise, it’s not in the desirable taste. “When we were on the back porch, I said, ‘You know, you can sit back here and have a cocktail, and you’ll have quiet neighbors; Nobody’s going to bother you.’ But by that point, I already knew… that they’d be happy there.”
  • Think about an adjustment to the price.
    Kasprisin reduced the cost “a little bit” on the Joliet house to allow it to compete with similar homes in the area. He compared it to selling a home adjacent to the interstate for around $400,000, which is equivalent to $600,000 for a quieter road with all other amenities being the same.

If you purchased this property at a lower price because it’s close to a cemetery, you can bet that future buyers will want the same. The difference is that “I think the nicer the house is, the more amenities, the less of a discount will be expected in the price,” Kasprisin explained.

Realpro NJ is here to guide you about the real estate industry regarding how your home’s performance stands out from other properties within your price range, irrespective of the proximity of the cemetery. You should then consider the location of the cemetery in the pricing plan. When you stop letting the doubt about the cemetery haunt you, you may realize that your home is a good investment. enough buyer appeal.

Read More: Home Appraisal Ideas

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