Many people have heard that a sex offender can significantly impact their real estate value, but not many people know the actual science behind it. Especially if you’re interested in buying a new home or selling a home you already own, you need to know more about sex offenders’ impact on your retail value. Here are some of the most important things to consider before you assess your real estate value.
How Much Is Real Estate Value Affected by Sex Offenders? Created By: PeopleFinders
The Actual Presence of a gender Offender
The closer a gender offender is to your home, the more likely it is that your home will see a reduction in value. If you’re living next door to a gender offender, you could see a drop in value of about 12%, while living within a 0.1-mile radius can drop the value by about 4%. Additionally, once the offender moves out of the neighborhood, homes will bounce back to their market value almost instantly, meaning that home value appreciation still exists in neighborhoods with sex offenders.
The Sex Offense That Occurred
If you’re buying rather than selling, you want to look at the sex offense itself. In certain states, an offense as insignificant as public urination may be cause for registering with a sex offense registries, although this is relatively uncommon. Though it can be scary to see that someone near your potential future home has registered as a sex offender, take it a step further and look at the actual offense. This gives you more information about whether the real estate value dip is deserved.
Risk of Other Crimes
Certain areas of the United States are generally at a higher risk for crime than other areas. In general, a high-crime area will see lower home prices than a low-crime area. For example, in 2015, ZIP codes in a “very high” risk area had home values around $156,844, while ZIP codes in a “very low” risk area had home values around $512,841. It’s very important to note criminal risk as a whole, not just the risk of sex offenders.
Protecting Yourself Before You Buy or Sell a Home
Whether you’re buying or selling, sex offenders can significantly impact your ability to do so safely. It’s a good idea to look up sex offenders near a home you’re buying or selling, as either way, you’re going to have to contend with their impact. Additionally, if you’re looking to sell a home, remember that real estate prices will bounce back once that offender moves. You won’t have to deal with a negative real estate value forever.
Although sex offenders can have a negative impact on a home’s value, this isn’t a permanent impact or an impact that’s always going to happen in a bubble. A home can see a depreciation in value due to generally high crime rates, not just high rates of sex crimes. The most important thing to remember is that sex offenders living near a home are only one piece of the puzzle. It’s crucial to pay attention to it, but there are many other things you should pay attention.