Real estate --- if home property is located near a zone of light commercial, will home value decline and will it be difficult to obtain a mortgage
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Anonymous
ANSWERS: 3
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From the municipal government side of the story (I work in Urban Planning), There needs to be some type of buffer between incompatible land uses. If they put a, say... coffee shop there, the coffee shop will be required to construct a buffer of some kind that is compatible with the surrounding area. In some cases, it's a wall, in others, a fence and some landscaping. The commercial structure should no be directly visible from the residential area, so the residential parcel should look just like any other interior parcel in the subdivision, with the added benefit of no rear neighbors. ^_^ That's all I have. I hope that helps somewhat.
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The value of the land may go up if there is someone who wants to rezone to light commercial and this is a possibility. Probably the only reason it would be difficult to obtain a mortgage is if the residence is rezoned prior to purchase.
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In my experience in the lending business, the lenders are more interested in whether you can pay them back. If you have a good job and good credit, you probably won't have a problem. If the area is growing, and the other property owners take good care of their properties, the value is more likely to go up than down.
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