March 18th, 2014
You’ve been looking at homes and found a nice one, but it’s right under some large electrical wires. Your real estate agent counsels against it saying that a house isn’t safe, or that it lowers the property value.
The answer is that it depends. Generally if there’s electrical towers near the house, it will impact the value and time to sell when you’re ready to sell it. However, it could be a good way for you to buy the house if it’s in a neighborhood you might not ordinarily be able to afford.
The short answer is probably not. However you should consider putting in a contingency that it passes inspection from the local power company to ensure that it’s not leaking. Just know that there is no conclusive evidence to date that power line towers cause cancer. You can search the internet and find compelling proof both ways, but nothing has ever been proven beyond a shadow of a doubt.
However, you should also ask the current owner if they have any problems with television reception, or interference with computers, cell phones, landlines, etc.
And the bottom line is that you need to evaluate for yourself what you want to do. It’s similar to purchasing a house on the corner. Statistically, they have a higher crime rate, but that doesn’t mean you will have a problem with crime.
For more information, Realtor.org provided a page filled with resources to examine this issue.
One recent article was from Health Physics on Health Risks Associated with Living Near High-Voltage Power Lines.
So, if you’re getting a good deal because there’s a power line, then yes, the property value is lower than if there weren’t power lines. And when you go to sell, most of the people will walk away as soon as they see the power lines. But there will always be people who are looking to get a good house for less than market value.