The purchase of a home is the largest investment a person makes. Regardless of what the wind industry would like us to believe, property values are impacted by nearby industrial wind turbines. Wind proponents insist that property values are not impacted by wind turbines; they argue there will always be a buyer; it is simply a matter of taste.
That is small comfort to those who have turbines inflicted upon their neighborhoods, but to whose taste rattling windows and humming walls, flickering lights, 130-foot blades spinning overhead and giant metal towers where once were trees and white-tailed deer, simply do not match.
The key to successful real estate investment is the old saying “location, location, location.” Despite personal preferences, property is purchased with the factor of resale value in mind. A prospective buyer who is deaf will not be bothered by a noisy road, but the buyer would still recognize the impact that busy road will have on resale. Logically, wind turbines reaching heights of 492 feet tall, producing constant audible noise over large areas, as they intrude on local vistas; lead the average person to believe the only valid conclusion is that nearby residences are less valuable than they would be if there was no turbine nearby. It is a buyer’s market in Connecticut, like most areas of our country. Why would a buyer choose a house within sight and sound of an industrial turbine, if a comparable house at the same price were available elsewhere, beyond the sight and sound of a turbine? It is totally absurd to suggest otherwise.
Connecticut properties, so far, have been unaffected by the negative effects of wind turbines. We just do not have first-hand experience, but in states like Wisconsin they do. Studies of real estate in Wisconsin near wind turbines reveal that property values do, indeed, decrease. Properties bordering wind energy facilities suffer a decrease in value from 39 to 43 percent; properties located in close proximity (less than 1,000 feet) decreased in value 33 to 36 percent; properties that were near in proximity (within two miles) realized a value loss of 24 to 29 percent. The decrease in value of property was also found to be influenced by the actual placement of the turbine in relation to the home; the visual impact in front of the house would have a negative effect on value 74 percent of the time, and 71 percent if placed in the rear of a property.
If wind turbines had no effect on property values, then wouldn’t it be reasonable for developers to simply make property value guarantees to the owners nearby? The fact that they won’t put their money where their mouths are speaks volumes.
Yes, Connecticut, wind turbines will affect property values. Negatively.
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