One Person’s Real Estate Trash is Another’s Treasure…
By Heather Faucher | Posted on June 16, 2009 | Filed Under Real Estate
They say art is subjective, and that one person’s trash is another’s treasure. The same holds true in real estate, an industry that is very much concerned with appearances thanks to that holy grail known as “property value.” In other words, is that dump my neighbor calls his castle going to affect my resale value down the road? The answer is–it depends.
Some people love the unique or quirky. Others absolutely hate them. Strange and unusual properties can be found all across the globe, from the Toilet house in South Korea, to the guitar-shaped home in Fayetteville, Georgia, or even the house in England with the astoundingly accurate replica of the Starship Enterprise as its interior. Neighbors either love or loathe peculiarities like these, and tourists often flock by the busloads to photograph them. But is someone else going to want to buy such a taste-specific customization on down the road? Or, alternatively, are others going to want to pay to live next to that oddity?
Why do homeowners build such atypical or downright unsellable structures? For some, it might be the attention-getting aspect. For others, it’s a simple love of architecture or the unusual. After all, home construction can be very much an art form. These days, however, it tends to be very much a cookie cutter art, with most homes looking very much like the others on the same street. That fact makes the unconventional or trendsetters want to stand out as much as they possibly can. Even if it is to the detriment of their neighbors.
Most see a house made out of beer cans as a disaster that will drive their property values way down. Not to mention, it can be downright difficult to assess the value of an unusual structure such as a Star Trek themed home, a spaceship-shaped house, or a home built as an homage to the Flintstones. Some have even constructed homes entirely out of found items (AKA trash), so their aesthetic appeal is hotly debated. Again, that old saying about one person’s trash…
Of course, economically speaking, it can be a bad idea to build a house that’s shaped like a guitar, a shoe, or a dog. When you later try to sell that unique property so you can build another, the home you love to pieces may make most people want to see it just like that–in pieces. It’s only going to appeal to a very small group of buyers, since few people want to purchase an eccentric house. And seeing that a house has sat on the market for a long time might make it even harder to appeal to buyers.
While people spend a tremendous amount of time in their homes and should surround themselves with what they love, they may want to think twice before making permanent changes that will make it harder to sell down the line. There are all kinds of ways to make less drastic renovations or design changes that will truly make a home into your castle. There’s nothing wrong with bringing back a sense of fun and adventure to the world of home building and decor. Just don’t forget about those little things called reality and the bottom line.
And if you have questions about your rights when it comes to neighbors putting their trash beside your treasure, consult an experienced real estate attorney ASAP.
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Tags: Real Estate, real estate contracts, weird real estate
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