1. Fire hazard: some homes too close to power lines might be in a fire hazard/brush fire zone. Translation: harder to get insurance, or insurance more expensive. I know a few folks that live in Sea Ridge in Carmel Valley had some insurance companies that gave them crap about it. Though I do not think it’s not directly related to the power lines, they are facing an area which has dry brush and power lines. And they don’t mix.
2. There has been speculation between EMF from power lines and leukemia, though nothing conclusive. Not sure what would be worse: power lines 30-40 feet above you, or power lines buried 7 feet underneath you (as is the case for lots of torrey hills).
3. Power lines crackling you sometimes hear when the it’s damp outside.
4. Hope you don’t plan on putting in a pool. Water and power lines don’t mix.
5. While you might not mind the power lines, there are plenty of people that do. Translation: consider if you ever needed to sell your home.
Personally, I would never buy a home near power lines for personal use, not matter what sort of price discount I could get. It would be along the same thing as buying a home near an airport and then complain about the safety/noise level(Oops, I didn’t say that.)