We just bought our dream home and did a $40K reno, but a 200-unit apartment complex is going into the lot behind ours. Should we sell now?
We just bought our dream home and did a $40K reno, but a 200-unit apartment complex is going into the lot behind ours. Should we sell now?
Buying a dream home is one of life’s biggest accomplishments, especially when you’ve put time, money, and love into renovations. But nothing dampens that excitement faster than learning a massive apartment complex will soon rise behind your property. The question now is whether to stay and adjust, or cut your losses and sell. The answer depends on several important factors.
Understand The Timeline And Scope
First, get a clear understanding of what’s coming. How tall will the building be? Will it affect your view, light, or privacy? How long is construction expected to take? A project of this size could mean years of noise, dust, and heavy equipment traffic. If your peace and quiet were part of the home's appeal, you may need to weigh how much disruption you’re willing to tolerate.
Max Vakhtbovycn, Pexels
Gauge The Impact On Property Value
Multi-unit developments can impact surrounding property values—positively or negatively. On the downside, more density could mean more noise, traffic, and lower perceived exclusivity. On the upside, new developments often bring infrastructure improvements, increased walkability, or rising neighborhood desirability. Talk to local real estate agents about how similar projects have affected home values in your area.
Think About Your Emotional Investment
You’ve already poured $40,000 into renovations—likely with the intention of enjoying the home for years. How emotionally attached are you to staying? Will the construction behind your house be an irritation every time you look out the window, or is it something you could live with? Emotional peace is hard to quantify, but it matters.
Didgeman, Pixabay
Consider How Long You Plan To Stay
If you were planning to stay long-term, it might make sense to ride out the disruption. Over time, the construction will end, the market will evolve, and you may find that the complex has little effect on your daily life. But if this was a short-to-mid-term home, the upcoming construction might turn resale into an uphill battle. Timing is key.
Take A Long Hard Look At The Local Housing Market
Before listing your home, research the local real estate market. Are homes in your neighborhood still commanding high prices? Is inventory tight? If demand remains strong, you might still sell at or near top dollar—especially if the construction hasn’t begun and buyers don’t yet perceive it as a deal-breaker. Acting quickly may preserve your equity.
Jakub Pabis, Pexels
Talk To A Real Estate Agent
A seasoned agent can offer valuable perspective. They can evaluate comparable sales, assess buyer attitudes, and estimate how much the development might influence your home’s appeal. They’ll also know whether marketing your home now—as “renovated and move-in ready”—might offset concerns about what’s coming next door.
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