How Does Graffiti Affect Property Value?
Graffiti In The Community
- While some think that graffiti is art, it is actually a crime. The illegal defacement of someone’s property is a criminal offense. This particular crime not only costs the “artist” financially (cost of the paint supplies), but it costs the neighborhood, as well. Property owners incur an extra expense of graffiti removal. Additionally, businesses lose sales when consumers decide to leave the community, in order to shop at a safe, cleaner-looking store.
Perception of Fear
- The people of a graffiti-infested community might have fears and trepidations. Due to this, home owners may try to sell their homes. Prospective buyers see graffiti as an eyesore. And the combination of graffiti and “For Sale” signage will give the perception that the neighborhood has become a “bad” neighborhood.
Lower Property Value
- According to the National Association of Realtors, property that is located within a neighborhood where there is graffiti can lose 15 percent of its value. If the graffiti is vulgar or hateful, the property owner can realistically expect to lose up to 25 percent of the home’s value.