zoning advantages

[bodztl]

ohio--our two acre property is residential; the property ajoining(42 acres) is in the process of being zoned commercial for a developement project. the owners of said property asked if we would consider joining them in zoning our property commercial. are there any advantages or disadvantages in doing so(ie. taxes, buffer zones, inspections, home-owners insurance, value of property)?

 

[HomeGuru]

Commercial property historically has a higher value per square foot vs. residential property. This type of property also has higher costs such as real property taxes, utilities, insurance etc. If you see potential in the near future for your residential property to be used successfully as comercial property, then there will be benefits to upzone.
If you cannot sell/lease to a developer/user for commercial use, it would not make economic sense to rezone. Is the infrastructure in place already or would you have to spend bucks to bring in utilities, build roads etc. Check with a real estate appraiser.