From left: construction and Leslie Hirsch of Brown Harris Stevens
No one wants to live near construction ? the noise, dirt and general chaos have always been thought to drive down real estate prices. But according to a report from NY1, residents have reason to embrace construction in their area.
Buyers and renters should consider a couple of factors before turning down a prospective apartment just because construction is going on nearby. While an obstructed view could be a deal-breaker, other facets of construction ? like new amenities in the neighborhood, or newer housing stock ? could be a boon for area pricing, according to the report.
?Buyers shouldn?t discount a property just because there is a construction site next door,? Leslie Hirsch, an agent with Brown Harris Stevens, told NY1. ?People are walking down the street and see a hole in the ground or a crane with a building going up but it?s not always a bad thing. A lot of times, new construction could be great for the neighborhood.? [NY1]???Guelda Voien
Source: http://therealdeal.com/blog/2012/08/31/the-upside-of-neighborhood-construction/
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