Home Buying in Studio City>Question Details

Ch, Home Buyer in Studio City, CA

Buying a house next to the freeway with a Roll-on Roof.

Asked by Ch, Studio City, CA Thu Jun 11, 2009

I'm looking to buy a foreclosure house that is NEXT TO A FREEWAY, although it’s located in a great neighborhood and next to a park, I'm concerned if the house may pose of any problems such as dust, noise pollution, pollution, affect resale value, etc.,... Are homes that are next to freeways, even in great areas such as Studio City a risky purchase?

The house also has a ROLL-ON ROOF. Some insurance companies won’t insure it. Should I avoid buying a house with roll-on roof because it has less protection from water damage?
Thanks.

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PantigaGroup Inc.’s answer
Ch:
Buying a home is more that the mere need of a roof over our heads, it is a significant investment and to a great extent it should be looked at as a business. The questions that you pose will be the same ones that future buyers will come up with...it comes down to VALUE!!! Are you getting this property at a value that reflects all these potential issues? Good Luck Investing
Manny P.
0 votes Thank Flag Link Sun Jun 28, 2009
I'm not sure what you mean exactly by a "roll-on roof", but I think that that would of course have a detrimental affect on the value of the property. As long as you know what you're getting though, and factor it in to the purchase price, even if it is a foreclosure, you should be OK.

People get their panties in a bunch when buying property next to freeways, highways, busy streets, etc., but in reality its not something you should worry about too much. Unless it is some unique scenario where the noise is SEVERELY loud, to the point it is actually noticeable at night, it shouldn't really impact the value of property at all, or the ability for resale. Yes it may affect the property, but so does the square footage, number of bathrooms, and the living space. You stated that the home was in a good neighborhood, so as long as you already know exactly what you're buying, you shouldn't have much of a problem, and you shouldn't consider it a "risky purchase". You'll be able to sell the property at its value at the time of resale, as long as you understand what that value is then, and is now, you WILL be able to sell it no matter if it is located next to a freeway, etc. Good luck.
1 vote Thank Flag Link Thu Jun 11, 2009
Hi, Ch:

There will be those that have the same questions as you have now. The value of a home right next to a freeway will be lower than one that is further from the freeway. Is the roof on this home a flat roof?

With homes with the flat composition roofing (sold by the roll) do require routine maintenance to make sure that water can drain properly. You have to make sure the drains are clear of debris

Happy househunting!
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Sun Jun 28, 2009
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