Home Buying in Dublin>Question Details

atul192, Home Buyer in Dublin, OH

I am planing to build a home which is very near to railway track,Does is make any diffrence while buying or selling?

Asked by atul192, Dublin, OH Thu Jan 3, 2013

I am planing to build a home near the property (http://www.trulia.com/property/3093125874-5173-Copper-Creek-…) which is very near to railway track,Does is make any diffrence while buying or selling?Does it cause any issue in the building frame/strutcure and reduce the life?

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The short answer is YES. Houses along railroad tracks typically have longer days on market when selling them and sell at a lower price. It has no physical impact on the property itself. I even had one client who was in love with trains and loved the sounds. The closer to a crossing the property is will probably be the worst, because of the loud whistle blowing that starts roughly a half mile before the crossing. Most people do not like the noise. Make sure you are there when a train passes and see how you feel about it. If and when you go to sell it, it will be a factor. Make sure you buy it at the right price to begin with, because you definitely do not want to over invest. How you find that out without a Realtor is difficult. I suggest you select a realtor with plenty of experience with builders. Contact me if you have any questions: Cell phone 614-747-1509 (and text) or email at carol.toronto@realliving.com.
0 votes Thank Flag Link Thu Jan 3, 2013
I live in Dublin and sell quite a bit throughout the area and Northwest suburbs. Your question is very good. Some people don't mind having railroad tracks behind their home as long as they like the lot and if there is some type of barrier, i.e. wooded or enough distance from the tracks. Others may see that as a negative. From my experience resale is very important and although being directly near the tracks might not bother you personally it definitely is something to consider when building a home and protecting your investment. I've found homes with railroad tracks directly behind a home take much longer to sell, it takes the right buyer.

Again this opinion is based on a number of buyers I've worked with and their need to have more privacy and be further away from the tracks. I hope this helps in your decision.
0 votes Thank Flag Link Thu Jan 3, 2013
Atul, I know where those tracks are. I've shown properties all over near those tracks and others. I know the frequency and it doesn't matter. That's still enough that it affects value. Yes, most people get used to it but buyers are squeamish. Basically, the further away, the better and it's exponential the further away you get.

Get the other lot, even if it's more. FYI, the best lots are ones where the "living area" of the home is facing South or West....but some buyers never pay attention to that. I do when I'm showing homes to buyers, though.

FYI, I regularly consult with buyers who are building new homes. I have done many new build homes. If you need help please let me know. I am sure you know that builders typically pay a buyer's agent. I would be willing to work with you for a limited fee if you are interested. (disregard if you already have an agent)

Good luck.

Jim
0 votes Thank Flag Link Thu Jan 3, 2013
I appreciate everyone response and I would also like to mention that in Dublin OH we don't have passenger trains this rail track is only for Goods Train which run 2-3 times only in a day and the property is around 60 meters away from railway track.I can try for a different lot which is not available is North East or East side facing (Not sure how much this matters while selling) but again not sure how much distance does make a difference.
0 votes Thank Flag Link Thu Jan 3, 2013
Yes. There is a segment of the market that will never buy a home by RR tracks. So you are cutting out some buyers, which affects resale. It's not like power towers, which could be dangerous, but it does affect value. Did you happen to notice that the last lots sold are the ones by the tracks and are probably discounted? There is a reason for that. FYI, I had one buyer client who couldn't have cared less about RR tracks and one who actually liked them. But that's not the norm.

Ask your agent. If you don't have a buyer's agent, get one.

Jim Deskins
Broker-Owner
The HomeBuyer's Adovcate
http://www.Advocate4Buyers.com
0 votes Thank Flag Link Thu Jan 3, 2013
You bet.....if you feel the need to ask this question, you can be assured that others will have the same concern in the future. Land in these areas is less expensive for a reason and this will also transfer to the structure when completed.

Good luck,

Bill
0 votes Thank Flag Link Thu Jan 3, 2013
Yes.... in both buying and selling. You will notice you will get a great deal in buying in comparison to the same house a couple of blocks away.... but you will find it difficult to sell so be prepared for that. Agree with the comments posted.
0 votes Thank Flag Link Thu Jan 3, 2013
All the answers below are consistent. The resale value will definitely be adversely affected. And it would be a hard sell unless you sell it for a very cheap price.
0 votes Thank Flag Link Thu Jan 3, 2013
Hi Atul.

I'm with Gregg and believe there is little future in resale or value of any property that is so close to a RR track/line/station, etc. It's got to be one of the worst possible locations for residential real estate.

GOOD LUCK.

Scott Miller
Realty Associates
Boca Raton-Miami Beach
0 votes Thank Flag Link Thu Jan 3, 2013
Do not buy or build home near the tracks. No resale value. Builders will give sweet deal to dump on someone head and make money.Be carefull.

Good luck.
0 votes Thank Flag Link Thu Jan 3, 2013
As far as value, yes it does make a difference been close to railway track. For building Specs, you better consult with structure engineer.
0 votes Thank Flag Link Thu Jan 3, 2013
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