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Home Loan Matters to 'Zone' in On
by Jonathan Haeber
CMR Columnist
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Real estate agents will tell you that zoning is both their friend and their enemy. The first city-wide zoning ordinances occurred in New York City in 1916. At that time, according to Wikipedia, the Equitable Building towered above the surrounding community, casting shadows that residents complained about, leading the city to implement zoning laws.
Since 1916, cities across the country have used zoning to their advantage. Whether a space is set aside as industrial, open, residential, or commercial, proper planning always benefits everyone who lives and works in the surrounding area.
At the same time, real estate agents will tell you that zoning can sometimes be a curse in disguise, often limiting the amount of development and building in specific areas. Furthermore, agents would rather see all planning and zoning in their area to be residential and open space, but that always isn't the case.
Get in the Zone
If you are planning on buying your first home, then you may not know much about zoning. I'll tell you now that zoning is important--if not the most important--consideration to make before you buy a home. Your home may, in fact, depreciate in value if you buy in or near an industrial area.
Zoning maps are available at your local library or city hall. Many larger cities also offer zoning and planning maps online. Simply type in the name of your city, followed by the words, "zoning map," in a search engine. Sometimes, you'll have to download an Adobe Acrobat reader in order to view the maps.
When looking at your map, you should scan the area surrounding your prospective home. If there are any areas with an I or C in their designation, then you should query about the land use with your agent. I and C stand for Industrial and Commercial, and can often lead to unanticipated air quality and traffic issues in your neighborhood.
Sources
Wikipedia: Zoning
About the Author
Jonathan Haeber recently closed escrow on his first home. He currently resides in San Francisco, CA. and works as a full-time copywriter for Discovery Channel Stores.
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