How Does Graffiti Affect Property Value?
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Graffiti Hurts Your Community
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While many young people believe that graffiti is art, it is actually a crime. The unlawful defacement of a person's property is a criminal offense. The crime not only costs the "artist" money (the cost of the paint), but it costs the neighborhood money, too. Business owners and home owners incur a tremendous expense in graffiti removal. Additionally, stores lose business when shoppers opt to leave the community, to shop at a safe, cleaner-looking store.
Increase in Fear
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The citizens of a graffiti-infested community may have fears and trepidations. As a result, people may try to sell their homes. Potential buyers see graffiti as a neighborhood eyesore. The combination of graffiti and "For Sale" signage will lead people to believe that the neighborhood has become a "bad" neighborhood.
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Decrease in Property Value
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According to the National Association of Realtors, property located within a community where there is graffiti will lose 15 percent of its value. If the graffiti is profane or hateful, the property owner can expect to lose up to 25 percent of the home's value.
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Resources
- Photo Credit affordablehousinginstitute.org
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Comments
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help me I don't know how graffiti ruins peoples property.
