Home Buying in Cambrian>Question Details

KR, Home Buyer in 95066

Can you share with me the difference in buying a home on a busy street (like meridian) and on a quiet street?

Asked by KR, 95066 Wed Sep 3, 2008

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The difference is it's less valuable to a buyer to have traffic noise that quiet enjoyment. Therefore the home can not expect to garner as much capital. (money)
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1 vote Thank Flag Link Thu Sep 11, 2008
One thing some buyers don't take into account is the increase of traffic over time. So while there is a % price reduction now -- you may be attracted to the lower price point on a busier street -- streets can get progressively busier. I listed a house on Bird Avenue in Willow Glen once that the owner had purchased below other similar homes a few years prior -- but Bird near Willow got REALLY busy and pretty scary for crossing the street by the time this owner wanted to sell her home. We never actually sold it -- the price she wanted was so much more than the price anyone was willing to pay. Once you own your home, you tend to fall in love with it, no matter where it is located. So you stop seeing its flaws, in some ways. Then when it is time to sell, you want your house to be worth what other similar homes are worth. The problem is, if it is on a busy street like Meridian or Bird, it will always be a % lower -- even sometimes $250K or more lower -- than similar homes.

The timing is a factor, too. You always want to be able to sell when you want to sell -- so a busier street house also will be more tough to sell in terms of the numbers of days it will take to sell. A quieter street house will always sell more quickly and for a better price.

Good luck!

Erica M Nelson
San Jose School/Education Specialist
Mom of 3 kids under age 8
408-416-7090 cell
1 vote Thank Flag Link Thu Sep 11, 2008
Hi Rani,
The 2 Bills gave you good answers, the only thing I would add is all Real Estate prices are based on demand
busy streets are less desireable for the reasons the Bills gave you so there is less demand for the property and they are usually priced lower to attract buyers.
P.S. they also have lower resale value.
I hope this helps, if you have any other questions please feel free to email me at allyson@homesbyallyson.com or call me at (408)705-6578

1 vote Thank Flag Link Thu Sep 4, 2008

Distracting road noise, dirt and dust from passing cars, children safety, resale ability, etc. etc.
1 vote Thank Flag Link Wed Sep 3, 2008
Simply between 10% and 15% reduction in value and much more difficult to sell in anything other than a booming market.
1 vote Thank Flag Link Wed Sep 3, 2008
There is one big benefit to purchasing on a busy street and that is street exposure and traffic for a small business. Many times you will see a home elder care on a busy street. But as the other agents stated, resale is difficult as there is always less demand
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Mon Sep 8, 2008
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