detox and rehab hostel

mnbvcxzasdf

I have discovered that the hostel 3 doors along from the flat I am buying has approved planning to build an extension taking it from 8 bedsits to 15, still only one warden on site. This is definitely happening as the development has started, the appeal period has elapsed. What does this do to value and prospects for resale in the future?

silvercar

Not a lot.

The fact is there is a rehab hostel nearby, that will put some people off. I doubt the ratio of residents to wardens makes any difference.

davidmcn

Depends what the rest of the area is like too, whether there's actually been any problems with the hostel, etc.

[Deleted User]

Remember that any hostel residents that cause problems or even sniff a drink will be thrown out immediately, unless its a wet hostel. Worth investigating what sort of hostel it is.

But I'm afraid its a 'good thing, as long as its not on my doorstep' kind of thing.

Yes it might put some people off. But you can just say (as long as its true) that you hardly know its there. That's the way it should be. You can always write to the owners and make enquiries, ask the neighbours to see what impact the hostel has.

ReadingTim

The fact that the hostel is enlarging won't have too much more of a negative impact - any negative impact on value and resale prospects is cause by the fact that the property is close to a hostel in the first place.

Furthermore, perceived impact on property value is not a valid planning permission objection.