Humber/Ontario Real Estate Course 2 Exam Practice

Why would a homeowner be concerned about a neighbouring property being rezoned to commercial use?

1. It may lead to increased property taxes.

2. It could lead to a decrease in the value of their property due to less desirable location.

3. It may cause a significant reduction in neighbourhood noise levels.

4. It will automatically convert their residential property to commercial.

5. It will bring about an increase in green spaces.

6. It will result in mandatory home renovations.

The correct answer is: It could lead to a decrease in the value of their property due to less desirable location.

A homeowner would be concerned about a neighbouring property being rezoned to commercial use because it could lead to a decrease in the value of their property due to a less desirable location. Commercial properties often bring more traffic, noise, and potentially unsightly buildings, which can affect the appeal and value of residential properties in the vicinity. This change in zoning could make the neighbourhood less attractive to potential buyers or tenants, ultimately reducing the value of the homeowner's property. The other options are incorrect because: A. Rezoning to commercial use may not necessarily lead to increased property taxes for the homeowner. C. While rezoning to commercial use could potentially increase noise levels, it is more common for commercial properties to generate noise rather than reduce it. D. Rezoning a neighbouring property to commercial does not automatically convert the homeowner's residential property to commercial. Property uses are typically determined by individual zoning designations. E. Rezoning to commercial use may not necessarily bring about an increase in green spaces in the neighbourhood. F. Rezoning a neighbouring property to commercial does not result in mandatory home renovations for the homeowner.