When buying or selling real estate, knowing what properties are on either side is important, as they can greatly affect the value of the land. While many types of undesirable neighbors may diminish the value, such as firing ranges or dog kennels, there are some that can do just the opposite, and make land more valuable just by being an adjoining property.
Two of the many assets that Chatham County has to offer those that are looking to buy or sell land here are Jordan Lake and the Army Corps of Engineers Property. These are both excellent places to own land near because of the limits on future development. Because there’s never going to be a highway, residential neighborhood, or super market constructed in those places, any land that touches them is worth approximately 30% more than it would be otherwise.
Similar areas exist all along the Rocky River, where Tim Sweeny of Epic Games has purchased thousands of acres of land with the intention of keeping them forever wild nature conservancies. These areas have the same benefits as those near Jordan Lake and the Army Corps of Engineers Property. In fact, one of the few downsides of living near these areas would be the hunters hiding in the woods while the shoot at deer.
There is currently a huge multi use property development plan being constructed called Chatham Park, which will add many new residential neighborhoods and shopping plazas to the area. While not everyone is in love with this plan, the affect it has on any property adjoining it is undeniable. Any real estate close by is going to have lots of access to a variety of new shops and business, and will increas in value accordingly.
On the other side, there are places that can lower the value of land, as well. Just as some areas of Jordan Lake and increase property value, others can do the opposite. Specifically, those areas close by the Sharon Harris nuclear power plant. The lake is used as a cooling reservoir, which doesn’t help when attracting buyers. There are other factories, mines, and recycling centers along the Rocky River that offer similar disadvantages, each lowering adjoining property values for different reasons.
