The Town Crier

Friday, March 2, 2012

Wind turbines blow down resale value of homes.

By Heather Wright, Sarnia & Lambton County This Week



GRAND BEND - If you can see a wind turbine from your window, chances are your house is going to sell for a lot less money than you want.



That's the message Doug Pedlar, a real estate broker with ReMax in Grand Bend, brought to about 300 people in the village recently. Pedler talked with a number of real estate professionals across the province about the impact of industrial wind turbines on home sales and found studies about the subject from around the world. He says in general, the value of a home within view of the rotating blades takes longer to sell and could sell for 30 percent less than market value.

Pedlar says in one case in Simcoe, a real estate agent was trying to sell a 25 acre vacant hobby farm with a wind turbine behind it. He listed the lakeview property for about $149,000, expecting to sell it for about $135,000. Six months later he finally got an offer of $65,000. All seven of the potential buyers asked the agent about the wind turbine.



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