Impact of Homeless Shelter in South Austin

[Gus Joseph]

Hey all,

First time posting on here - I'm looking to house hack a single-family house/condo in the South Austin area, however I just learned that the city just approved a new homeless shelter to be built very close to where I was looking to buy. Does anyone know how this may impact the price/value of any of the property in the surrounding neighborhoods? For reference, there is another homeless shelter in Austin (more east-central) that is literally overflowing at all times with homeless people, so I assume the South Austin shelter would eventually look similar to that.

Any input is definitely appreciated!

[Ronald Rohde]

Originally posted by @Gus Joseph:

Originally posted by @Account Closed:

 You will have break-ins, thefts and eventually squatters.

Yeah, I kind of assumed this may be the case - obviously common sense would say that the value of the property would definitely take a hit thanks to the increased security risk, but I thought it could be a potential opportunity if people overreacted and dropped the price significantly.

Do you have any experience with squatters or break-ins on any of your property?

 Unless you have experience or some metric to determine what that floor is, don't try to catch a falling knife.