Real Estate

Hospital proximity vs home value

  • Last Updated:
  • Oct 12th, 2017 11:24 pm
[OP]
Jr. Member
Aug 7, 2006
148 posts
29 upvotes
Toronto

Hospital proximity vs home value

Hi all,

I was wondering whether living close to a hospital is a positive, negative or neutral to property value.

Perhaps right next to one is not so ideal but a 5 minute drive. Thoughts?
22 replies
Deal Addict
Nov 22, 2009
2132 posts
357 upvotes
Toronto
mclazy wrote:
Oct 10th, 2017 10:57 am
Hi all,

I was wondering whether living close to a hospital is a positive, negative or neutral to property value.

Perhaps right next to one is not so ideal but a 5 minute drive. Thoughts?
Depends on the purchaser. Seniors would want to pay a premium for it while the younger generation may not like having a hospital nearby.
Member
Jun 15, 2017
284 posts
126 upvotes
I would consider 5 min drive is a plus point
Regardless of age
Member
Jun 15, 2017
284 posts
126 upvotes
My parameters are:
Transit, schools, highways, amenities, optionally hospital
Deal Addict
Dec 5, 2009
4695 posts
2496 upvotes
I would guess a positive to most. The more amenities and services you are close to the better.
Penalty Box
Jan 15, 2006
8316 posts
2458 upvotes
Richmond Hill
Location location location if you're talking about value.
Banned
Dec 28, 2015
617 posts
235 upvotes
Westmount, QC
Depends how close...ideally at least 500m away due to noise, traffic and smokestack
Jr. Member
May 15, 2015
180 posts
51 upvotes
North York, ON
Next door? No thanks.

Within the block? Sure thing.
[OP]
Jr. Member
Aug 7, 2006
148 posts
29 upvotes
Toronto
Cool thanks for the feedback. I'm near what will be the new Vaughan hospital but not adjacent to it. Probably a 5-8 min drive for me. I was curious if this would be seen as a positive to property value or not. Interesting to see the perspectives so far.
Member
Jun 15, 2017
284 posts
126 upvotes
mclazy wrote:
Oct 11th, 2017 2:30 pm
Cool thanks for the feedback. I'm near what will be the new Vaughan hospital but not adjacent to it. Probably a 5-8 min drive for me. I was curious if this would be seen as a positive to property value or not. Interesting to see the perspectives so far.
5-8 min drive far from hospital and ideal and convenient....
vaughan hospital near highways and go station is good place and has lot of potential to grow
Member
Jun 15, 2017
284 posts
126 upvotes
Lavaris wrote:
Oct 11th, 2017 3:55 pm
5-8 min drive far from hospital and ideal and convenient....
vaughan hospital near highways and go station is good place and has lot of potential to grow
Far in the sense...by walking ...and not right beside or infront of ur home...
Sr. Member
Feb 9, 2013
999 posts
164 upvotes
Mississauga
It's convenient, but it does not have much effect on home value. Fire station on the other hand, within 5 km can help reduce home insurance quote.
Home appeal is based on location - close to major highways, high ranked schools, grocery stores, malls, etc.
Deal Guru
Jun 26, 2011
10124 posts
984 upvotes
Markham
Like others said being close is good for convenience should the need arise and it also increases demand to live in the area because they are a major employer and people like being close to work.

Wouldn't want to have one in my backyard though.
Deal Fanatic
Aug 29, 2006
6849 posts
1002 upvotes
As long as you don't hear the sound of the ambulance going to the hospital, it would suck if you do since they run 24/7.
The Devil made me buy it - RFD. :twisted:

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