Property Close To A Local Power Generator station

[EstatePreneur]

Just wondering if living within next to / across the street close to a power station (it's got 2 generators as power supply to the local suburb) could harm our health, or cause any other side effect?

The power station with 2 big generators is just across the street of a property that I just inspected today, it's about 8 metres away from each other.

In terms of long term investment (buy & hold) and short term (buy, reno & sell), would you think this property is worth the money?

 

[lizzie]

wouldn't touch it - will be a major detrating point to both renters and future purchasers.

 

[wylie]

I agree with Lizzie, and wouldn't even consider it.

Wylie

 

[EstatePreneur]

Wylie & lizzie, thanks for the feedback

Here's some photos of the power station I took today.

So would you say this things do harm to our health?

 

[TheCamel]

not ncessarily harmfuil to health, but not a good look, as mentioned, it detracts from the house, and thus decreases its value.

Sure, if you could get it REALLY cheaply because it's there, then maybe..

 

[EstatePreneur]

not ncessarily harmfuil to health, but not a good look, as mentioned, it detracts from the house, and thus decreases its value.

Sure, if you could get it REALLY cheaply because it's there, then maybe..

Alright, I'll keep that property as an option if I could get it really cheaply.
By the way, if it's $50k - $70k below the market price, would you say it's cheap, the building/property itself certainly need some facelift though.

 

[keithj]

Sure, if you could get it REALLY cheaply because it's there, then maybe..

If you get it really cheaply now then it's likely to always be cheap. Buy quality for the long term, or something that will be (or can be made into) quality in the future... power stations will never move, so this will never be quality.

 

[EstatePreneur]

If you get it really cheaply now then it's likely to always be cheap. Buy quality for the long term, or something that will be (or can be made into) quality in the future... power stations will never move, so this will never be quality.

Keith, that is something i never though of, buy at cheap price, but then, the power station will always stay there. But having said that though, the property itself has huge potential (the house is brick, pretty old and still livable, but wouldn't be as more valuable as if it was just a block of land).

Hmm, what worries me most is the side effect/danger in living so close to power station like that, just across the street.

 

[Dazz]

That looks absolutely magnificent !!!

What a great property...low maintenance, high rents, no costs, great tenant with lotsa cash, and as keithj reckons....it'll be there forever.

Looks ideal. Is it for sale ??

 

[EstatePreneur]

That looks absolutely magnificent !!!

What a great property...low maintenance, high rents, no costs, great tenant with lotsa cash, and as keithj reckons....it'll be there forever.

Looks ideal. Is it for sale ??

Dazzling, I'm not sure if you're positive or negative towards this property (maybe you mis read the first few posts?? )
There's that power station across the street, wouldn't you worry at all although there're those some good things this property can deliver?

 

[Norwester]

EP,

I think you'll find that Dazz is talking about the substation/HV yard........

He is of course quite correct.........don't think it's up for sale though...


ciao

Nor

( the simple truth of the matter EP is that if it aligns with your principles and the numbers add up..........then you go for it)..........and I can't help but add that there are no negatives or positives in this case.........just a lot of alternation.........

Incidentally have you ever thought of the effects of having a radio transmitter stuck to your ear (ie mobile phone).........at this stage there are no proven ill effects with HV EMF. Although I will admit that a lot of electricians I know who work with HV........tend to have girls.........

Do be aware that sometimes subs can be noisy (residual humming - intermitent switchgear closing and opening arc noise, auto tap changers.........maintenance crews etc etc)

 

[EstatePreneur]

EP,

I think you'll find that Dazz is talking about the substation/HV yard........

He is of course quite correct.........don't think it's up for sale though...


ciao

Nor

( the simple truth of the matter EP is that if it aligns with your principles and the numbers add up..........then you go for it)..........and I can't help but add that there are no negatives or positives in this case.........just a lot of alternation.........

Incidentally have you ever thought of the effects of having a radio transmitter stuck to your ear (ie mobile phone).........at this stage there are no proven ill effects with HV EMF. Although I will admit that a lot of electricians I know who work with HV........tend to have girls.........

Do be aware that sometimes subs can be noisy (residual humming - intermitent switchgear closing and opening arc noise.........maintenance crews etc etc)

Ah hahaha, no worries then, I thought Dazz was referring to the property.
The substation/HV yard is large enuf that you can build at least 5 properties on it

Well, I guess if the vendor doesn't mind me getting a super cheap deal, I'll take it.

 

[The Y-man]

Hmm, what worries me most is the side effect/danger in living so close to power station like that, just across the street.

It's not the actual (or potential) harm that is the worry form an investment point of view - it is the perceived dangers. If renters/other buyers perceive it to be harmful to their healtm they will stay away. i.e. you can't rent it out for a good return, you can't sell/refinance for a good price.

Cheers,

The Y-man

 

[LynnH]

EstatePreneur

I echo The Y-man's comments - it's all about people's perceptions. I would not buy or rent a property so close to a power station. There are a whole bunch of better properties available which won't give you headaches re renting or future resale.

Cheers
LynnH

 

[lizzie]

as an example - my sister bought an ip next to the local bikie gang headquarters for real real cheap. she did it up and then tried to sell. no one would buy because the bikie gang was still next door.

they ended up having to sell real real cheap, regardless of the hard work they had put in and that the house had come up really lovely.

same as the substation. and too right - it's not real health issues but percieved potential health issues.

 

[EstatePreneur]

Thanks Y-man, LynnH and Lizzie,

I'm now 60% positive will not buy this property.
However, I've placed an offer on contract, do you think I should just tell the REA that I withdraw from my offer verbally, or should it be made in writing?

 

[wylie]

I'd definitely put your withdrawal in writing, just in case it gets signed, in which case you may have already bought it (depending on what "out" clauses you have put on).

Wylie