I live in an area where they are building a new state of the art hospital! what will it do to my home value???

Question

I live in an area where they are building a new state of the art hospital! what will it do to my home value???

Answer 1

Hard to say.  A nice, upscale hospital with patients that have money and pay should attract other businesses.  Also, the pharmacist, doctors, nurses, etc.. that will work there will probably like to live close by.  The medical profession pays well so that should help property values as well.  

But, if the area becomes congested, busy and ugly then it could hurt the value.  

Answer 2

Well, the area will be noisier and busier for one thing. I'm not sure that will adversely affect your home value though. It depends on what happens AFTER the hospital is built. You may find that businesses want to buy your home for a lot of money because the area is profitable. Or health care workers may be willing to rent your home. Perhaps you should talk to a real estate agent and get their opinion. But of course, wait and see how the area changes first. Good luck.

Answer 3

It will have no effect.  Everyone always thinks that a new shopping center , a new hotel, or a new hospital will raise values.  Seldom happens.  /

Answer 4

It won't effect your home value.  

Answer 5

Sure won't take it down.  A state of the art hospital will draw the best and brightest staff and make the area in general more desirable.  It may seem like a good idea to live in the boonies storing old junk cars on your front lawn - till you develope health problems then you realize how nice it is to have medical help close by in an emergency.