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#1
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House 200 yards from an Interstate, Should we buy it?
Hi,
We have looked at at least 25 houses in this neighbourhood, we really like the area, The house we are really interested in is around 200 yards from an interstate(E-470, denver,colorado). Right now the area at the back of the house is empty but they are building a preschool and a day care right behind our prospect house. But there is a section of the backyard from where you can see a bit of the freeway. I am going to go and check on the noise levels tonight and see how noisy does it get. Do people have experience with this? I have a feeling I will not have a problem living there, but I am really concerned about the RESALE of the house. Any suggestions are welcome. Regards, Rakesh |
#2
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Rakesh said:
Hi, We have looked at at least 25 houses in this neighbourhood, we really like the area, The house we are really interested in is around 200 yards from an interstate(E-470, denver,colorado). Right now the area at the back of the house is empty but they are building a preschool and a day care right behind our prospect house. I live slightly more than 200 yard from a freeway (I-275). There are other houses closer. The freeway has a noise wall and green space near it. We don't have high turnover in the neighborhood. Of our nearby houses, only one has changed hands more than once in the last 8 years. A couple have changed hands twice in 14 years. And many of the rest are still owned by the people who owned them more than 14 years ago. (Some of the turnover in the neighborhood involves people aging out of home ownership.) But there is a section of the backyard from where you can see a bit of the freeway. I am going to go and check on the noise levels tonight and see how noisy does it get. Do people have experience with this? I have a feeling I will not have a problem living there, but I am really concerned about the RESALE of the house. Outdoors in the daytime, during the spring and summer, the noise is present, but more sort of a 'white noise' mix and very tolerable -- even rather pleasant, compared to leaf blowers, lawnmowers, and the fellow who runs up and down with the motorbike (sounds you'd run into even in areas not near the freeway) . It's a bit louder when the trees are bare but my house is well insulated and (especially since the new windows were put in) very quiet inside. I would investigate the neighborhood turnover rate and how the traffic sounds affect *you.* I would even point out that a constantly noisy freeway can be a better neighbor than some people. (Easy enough to find 'neighbor from hell' stories.) So don't neglect to eyeball the neighbors when you listen to the freeway. -- Pat K. ('someplace.net' is comcast) Any technology distinguishable from magic is insufficiently advanced. (attributed to Don Marti) |
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#7
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On Thu, 30 Sep 2004 02:28:45 GMT, someone wrote:
You don't seriously think that the value of the house will go *down*, do you? Do you seriously think that the value of any particular piece of real estate can NEVER go down? On average real estate may go up, just like the stock market over time, but in the period that any one person could own it, it can indeed go down. I have purchased several properties for less than the last person paid; it went down for them. Of course this would not *only* be because it was 200 yards, or any other distance, from a highway. -v. |
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#9
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Doug Miller wrote: In article , (v) wrote: On Thu, 30 Sep 2004 02:28:45 GMT, someone wrote: You don't seriously think that the value of the house will go *down*, do you? Do you seriously think that the value of any particular piece of real estate can NEVER go down? On average real estate may go up, just like the stock market over time, but in the period that any one person could own it, it can indeed go down. Well, of course it could, but the person to whom I was responding appeared to think that the value would drop for no reason other than its proximity to an interstate highway -- clearly a ludicrous proposition. If a *new* interstate is built next to an *existing* home, yes, I can see the property value declining in reaction to that, but when both the house and the highway have already been there for some time, it's absurd to think that the value of the house will decrease just because the highway is there. When I was looking for my house, the way I figured it was that if the total market went down, a house near the highway would probably go down even faster. It just seems to make sense. If there are few buyers, the buyers will pick & choose ... and the last choice would be a house on a highway if there are ample other options available. In a down market, such a house would likely languish for months on the market, or require a major cut in price to move it. To the OP: if you forsee the possibility of ever having to sell quickly (for relocation or some other reason) during a potential downturn or sluggish market, this might be something you should consider. jen jen |
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