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Would you build on a lot close to freeway?
Hi there! Any opinions are appreciated. DH and I found an area we love. It has a great school, awesome rec center, all amenities we could ask for. A brand new hospital is also being built close by (not in the actual area but about a 10 min drive).
The only lots available left are ones that face houses which back onto a freeway. There is a green space and sound barrier. The noise is not that bad and nothing can be heard from the house. So our house would not back onto the freeway but would only be a street away from the ones that do.
I am worried about resale value. The builder is discounting these lots. What do you think? We would be the worst location in an great neighborhood. For the same price we can get into a worse neighborhood but be in a better spot within the neighborhood. Thanks!
Re: Would you build on a lot close to freeway?
We built on the worst lot in a great neighborhood.
Coming from the city, we didn't mind the noise and we were in a top school district which worked out well for our son when he ended up in the elementary school.
The lot was sold at a discount.
We never thought we would leave it which is why we chose the lot.
Never say never.
My husband's company changed locations and we opted to sell because the commute was hell. Our location made it very difficult and the discount on the lot at the beginning was reflected as a loss in the appraisal value as well as the feedback from potential buyers who walked through. Most loved the home, but being so close to a major highway is a deal breaker for about 95% of people.
Is the worse neighborhood in the same school district?
Green space? How much green space are we talking?
This. By us, someone got robbed - took nearly everything in the home. Parked off the freeway and unloaded their home. Granted, I am sure that's rare. But for me, I just couldn't. The noise. And who is responsible for the noise fence/etc? I see lots here that need some work.
It is your life and your $$$. If for you the pros out weigh the cons go for it.
Anything can effect the resale of a house such as life. As long as you enjoy your home it is worth it. You can not live for what if's.
I would not buy a house close to a highway but that's me. Thousands of people buy homes near roads.
Good luck and enjoy your home.
There are so many factors, but this question doesn't get an unequivocal "no" from me. In the area I live now, there are lots of busy streets and people build goregous homes on/near them all the time. There's really no way to escape it. The town I grew up in, however, only had 2 significantly busy streets, so no one would build their house on those streets, you know? So it really depends on the town for me. The amount of green space would also be a question. Also, are there trees to create a more peaceful view as opposed to looking at the freeway/sound barriers? Finally, how much worse is the "worse neighborhood"? It's just hard to say because I don't know your area.
The bottom line is that you're getting a discount on the lot now, so you'll have to keep that in mind when you sell the house -- that potential buyers will want a discount because of the poor location as compared to other homes within the neighborhood. It might also take a little longer to sell, but not if it's priced right because your future buyers will see the house as you do right now -- that on a $X budget, I can get into a bad location within A neighborhood or a good location within B neighborhood, and I'd rather be in A neighborhood.
My DH and I just looked at a great house that backs to a semi-busy road. We are not putting an offer in b/c of the road. otherwise, we probably would.
We are fairly picky and often choose not to even look at houses close to busy roads. We only looked at this one b/c everything else about it was so great...but we could not get past the road!! Just being honest!