I wish to share with you information I have found regarding wind turbines and their effect on property values. When contacting Veresen Inc (St Columban’s proponents) with this concern they stated that they didn’t EXPECT any effect on my property value and proceeded to send me a study that was supposed to reassure me.
Upon further investigation the study merely dealt with farmland (it doesn’t take an expert to know that it has gone up everywhere in the last several years). It made no mention of rural residential property.
I received a property appraisal by a licensed realtor in the area since I was cautioned that if I waited until after the project’s completion, value loss could not be attributed solely to the project itself.
The appraisal confirmed my suspicion that in fact my property would be de-valued. The report stated that: “Wind turbines and their infrastructure are considered to have questionable environmental and habitation elements that would effect value trending and marketability.”
Another quote from the report indicated: “This property is potentially subject to hydro transmission. This factor is considered to be a detriment in the marketing and value trending for the subject property.”
Who would you believe: a wind company that stands to gain financially or a licensed real estate appraiser? Our appraiser went on to explain that not only the “project area” for the wind farm will be affected (his prediction was 20-40% decrease in value-depending on how close to the project area you are) but that the whole municipality can be associated with the wind project in the mind of a potential “outside-the-municipality” buyer.
MLS now requires you to disclose how close to a wind project your property is, as well as disclosing anything that could have an environmental impact on the property. He stated that the high-powered line (buried or not) would have to be disclosed to a potential buyer. Read article