Value of lot reduced by detention basin?

[Metamorphic]

Sorry Mika,

But this is a very complicated question. An appraiser that knows nothing about your specific market or the specific property can come up with 1/2 dozen good reasons why it would increase value and another 1/2 dozen reasons why it could drive value down.

Only by looking at the actual property, studying the specific market, and applying experience gained in that market can an appraiser weed out which of the good and bad reasons apply and which carry the most weight.

Speaking just for myself as a home owner, not an appraiser, I don't want to own the property where when some guy back up in the neighborhood dumps a 5 gallon can of solvent in the gutter, that solvent goes to soak in. And for sure I'm not going to pay as much for acreage that's not 100% usable as I would for acreage that's all mine to do what ever I want with.

 

[daneisch]

I have a share of one in my backyard, as do two other neighbors. I had to do some weed control along my edge to keep the weeds from spreading into my lawn. It fills for up-to a couple of days after a heavy rain but, is designed at a level below my basement floor. To me I'd rather not have it back there. Its obviously a lot uglier than my backyard.

 

[ilovemaui]

I am not an appraiser. I'm an engineer and have designed many of these stormwater management facilities. It sounds like the facility is entirely located within your lot, therefore it is an encumbrance and your lot will have an easement covering the facility. It effectively reduces your buildable area. Typically we design these facilities to be within a common area tract owned by the HOA or the local utility and not on a buildable lot for a number of obvious reasons.