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What impact do wind turbines have on property value?

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Canadian Realestate Magazine | 11 Dec 2014, 09:59 AM Agree 0
Wind turbines and their proximity to residential real estate has long been a matter of turbulent debate, but a new study has found that these turbines actually have very little impact on the value of nearby properties.
  • Lynn Stein | 12 Dec 2014, 07:00 PM Agree 0
    I live in an area and sell real estate in the same area, that is threatened by wind turbines. Put simply, if you were to buy your future home, given the choice, and you always are, would you buy where you would have noise, shadow flicker, an industrial view, potential health issues caused by the turbines, and the possibility of a very difficult resale, or would you spend your money elsewhere? My experience over the last 7 years when turbines have been threatened in the South portion of Prince Edward County is that I have had 2 clients who said they did not care (out of hundreds) and neither actually put their money where their mouth was. All bought in areas of The County that were not threatened. Would you spend the same for a home beside an industrial plant that you would beside a gorgeous field? I have seen many studies... They don't count the ones that never sell. They don't count the ones the turbine proponent bought to make way for their business and investment. They don't mention the gag order included in the turbine contacts that you can't complain. You need to tell the whole story intelligently without this unsubstantiated and fabricated nonsense. I live it.
  • | 14 Dec 2014, 10:39 AM Agree 0
    Hi Jennifer. Sorry but your article is not correct. Wind turbines will/are/do affect property values. I have been a Real Estate Broker for over 10 years. At present it is consumer confidence which is the issue but once the health issues are understood all bets are off. I market many properties in the Grand Bend area and we are seeing more and more folks from the Toronto a
    Market. They hate them!! Turbines complicate your property enjoyment, period. That alone spells depreciated value(s). Now let's discuss how the super large blades make the human body feel. Woozy, sick. . . The Human Body (I do not know the affect on livestock/pets) detects a very low/strong vibration/noise (not to our ears) and this is in fact causing serious health issues. Turbines cause shadowing, kill birds and bats, throw large chunks of ice and only last 20 years? Turbines should be in remote, unpopulated locations. To all the folks that have turbines on their property, enjoy your $18,000 /- per turbine/year because you will be giving most of the lease payments back (in much lower property value) when you sell. FYI there is s 'Gag Order' written in turbine leases which states leaseholders are not allowed to discuss health issues concerning turbines or else no more lease payments (plus payback what you have received) for the 15 years. $265,000 $$. These monsters are very bad for Ontario. We all pay to subsidize the electricity they produce and they WILL also cause a significant LOSS of real estate $$ value.

    John Leonard Goodwin
    Century 21 First Canadian Corp
    London-Grand Bend
  • Jennifer | 15 Dec 2014, 09:16 AM Agree 0
    Thank you, Lynn and John, for your comments above. Always great to receive feedback from those of you in the industry with first-hand experience of issues like this one. If I write a follow-up piece, I will certainly be in touch.

    But I just wanted to point out ... I was reporting the results of a study, conducted by professors at the University of Guelph, which found that, in one targeted area, wind turbines did not have an impact on property values.
  • | 15 Dec 2014, 02:35 PM Agree 0
    i would be interested to know who funded the study that was completed by the Professors at Guelph..... as I have a hard time believing their findings....for the reasons the realtors who have also posted comments stated....
  • Angela Jenkins | 15 Dec 2014, 03:21 PM Agree 0
    I must totally disagree with the article. I am a licensed Mortgage Broker that both live and professionally trade in the exact area this article is referring to. I have had several Mortgage deals fall apart in this area because in the appraisal report it has been mentioned that there are windmills visible or adjacent to the subject property and once a lender gets wind of that (Forgive the pun) they will not fund a mortgage - So please tell me how that does not affect property values. If a person cannot get financing due to windmills - then how can this be a positive thing?
    I know that you readers are going to come back and say - "Well there have been several properties sold among the windmills" and yes you are correct - I am talking about mortgage transactions where by a full appraisal has been requested by the lender, either on a re-finance or a purchase.
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