At first this doesn’t seem like a big deal. However, after that house sits empty for a few years they might be shocked to find the appraisal of their own house has dropped due to circumstances they have no control over. When that person elects to eventually sell their home, they may find it problematic to catch a homebuyer’s attention. This can cause the seller to forfeit their home to the bank, which creates a domino effect of vacant houses. Having a condemned house next to yours might also increase a person’s home owner’s insurance. With added things like wild animals and unsavory behavior, your insurance will go up accordingly. The greater number of empty houses on a street, the less likely someone is to purchase a home there. Even though there isn’t anything the homeowner next door can do about these issues, this comes with living next to an abandoned
At first this doesn’t seem like a big deal. However, after that house sits empty for a few years they might be shocked to find the appraisal of their own house has dropped due to circumstances they have no control over. When that person elects to eventually sell their home, they may find it problematic to catch a homebuyer’s attention. This can cause the seller to forfeit their home to the bank, which creates a domino effect of vacant houses. Having a condemned house next to yours might also increase a person’s home owner’s insurance. With added things like wild animals and unsavory behavior, your insurance will go up accordingly. The greater number of empty houses on a street, the less likely someone is to purchase a home there. Even though there isn’t anything the homeowner next door can do about these issues, this comes with living next to an abandoned