Blight and abandoned properties are a reality that most New Jersey municipalities continue to face. From lawns that resemble a small forest, to old, faded paint jobs, abandoned properties in New Jersey are the ultimate eye sore.
The phrase “you are only as strong as your weakest link,” comes to mind. Abandoned properties not only look bad, they can also lower property values, as well as cause health problems.
Here are three reasons why it is important to address abandoned structures:
As a homeowner or member of the community, property is your greatest asset. Unfortunately, more so than any other investment, the surrounding area has as much an effect on a buyer’s appraisal as the property itself.
The “haunted house” down the street always has the possibility of going to auction. If you’ve ever seen an episode of Flip or Flop you know that the property will sell for a small fraction of its market value. If the property doesn’t go to auction, appraisers very often may consider the abandoned property a just basis for comparison.
This spells disaster for properties nearby. (Including your investment)
Many are unaware of the public health concerns posed by abandoned properties in New Jersey, as well as nation-wide. According to a study done by Erwin de Leon of Columbia University, “vacant and abandoned properties. . . have been shown to have deleterious effects on area residents, including mental distress, higher rates of chronic illness, [and even] sexually transmitted diseases.”
It’s not very hard to connect the dots. Imagine being a small business operating in a mainly residential area with an abandoned property. Being located near an abandoned property adds safety concerns to the challenges already faced with running a small business.
Unmonitored property acts as an open invitation for people to explore. This can be hazardous for neighboring homes and small businesses as the lack of activity draws unwanted attention to the area.
Drugs, vandalism, and other criminal activity is real. Taking a “this would never happen where I live approach” is negligent. A great reference is the “broken window theory” which essentially maintains that actively monitoring community environments and targeting minor crimes, such as trespassing, will prevent potentially serious crimes from happening.
Preventative measures are always good practice. We take pride in our community and its environment. These blights will continue to manifest themselves if action is not taken. Triad Associates wants to provide the kind of help and relief municipalities need to improve their communities. From grant writing, to preparing neighborhood and housing strategies, Triad is committed to eliminating the number of abandoned properties in New Jersey.