Sex offenders can have a serious impact on neighborhoods in a variety of ways. Although sex offender registries are extremely controversial, with uncertainties persisting as to whether they actually reduce offenses, the fact is that they exist right now. That means you can see whether there’s a sex offender near a home, which can impact your home’s value. Here’s what you need to know about the impact of sex offenders on real estate value.
The Actual Value of Your Home
The monetary value of your real estate can see an impact if you live near a sex offender. Homes within a 0.1-mile radius see some kind of impact. The general 0.1-mile neighborhood can see a value reduction of around 4%, while people who live right next door can see a reduction of around 12%. While this can be frustrating, especially if you have a higher-value home, the good news is that it will bounce back almost immediately after the sex offender moves out.
Your Ability to Sell a Home
It can also be more difficult to sell a home that’s right next to a sex offender. Many people don’t want to buy a home that’s right next to a sex offender, and because these registries are public, many individuals look them up before they move, meaning it’s very difficult to hide this information. If you partner with a great real estate agent, you can make the benefits outweigh the risks, and certain offenses are more likely to put off a potential buyer than other offenses, but this can still be frustrating.
An Impact on Your Home’s Criminal Risk Assessment
Overall criminal risk assessment is one of the most important factors when it comes to your home’s value. In one particular survey, homes in a “very high” risk index category had an average value of $157,844, while homes in a “very low” risk index category had an average value of $512,841. Having a sex offender in the neighborhood could make your neighborhood less safe, which could cause the home’s value to fall over time if it becomes less safe.
How to Protect Yourself
Keeping yourself safe is a crucial part of either buying or selling a home. As a seller, you want to sell for as much as possible and make sure the transaction goes well. As a buyer, you want the best deal, and you want to make sure you’re safe. A public records search engine can help you discover more about sex offenders in your area, including when they moved in and how long they’ve been there, to make sure you’re prepared for either the buying process or the selling process for a new home.
Although sex offenders can impact real estate value, they’re not the only thing affecting home value and the effect is not permanent. Getting more information should be one of your top priorities when it comes to sex offenders in a neighborhood. Whether you’re trying to discern if the offender is likely to move out of the neighborhood soon or you’re just trying to make sure a new home is safe, looking things up can help you do better.
Article Submitted By Community Writer