Home Buying in Winston Salem>Question Details

Jeannine, Home Buyer in Winston Salem, NC

My husband and I are considering buying a home that backs up to a reasonably busy road (35 mph zone). Is it a bad idea to buy if we may move in 3 yrs?

Asked by Jeannine, Winston Salem, NC Mon Nov 9, 2009

The backyard is huge (about 1 acre) and half ofthe back of the lot runs along the road and the other half backs up to a neighbor's backyard. There is a privacy fence with cypress trees starting to grow (maybe 6-8 ft tall), but you can see the road and hear the cars drive by. Everything about the home is appealing except for this fact. Its the nicest home for sale in a desirable neighborhood and we don't think we'd mind it all that much, but we don't think we'd be there forever, as we're first time home buyers. Because of the interior updates, which are really nice, it seems the home is listed higher than some of the other interior lots that haven't been updated since they were built 15-20 years ago. The home is listed for the mid to high $100s and other properties for sale in the same neighborhood are listed for $5-10 k less.

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Hi Jeannine,

These are questions and concerns that you should really express to the agent that is representing you, provided you have one. If not, you really should consider having an agent in your corner. The concerns you raise may or may not play into another's decision. However, as Larry and Reginald both pointed out, future street expansion could change things immensely. Based on your description of the lot, with one part adjoining another home in the subdivision, this sounds improbable, but without the facts and details, this is a hard situation to advise on. Some additional questions you might ask are: How long has this home been on the market? Was it on the market previously and did not sale. Why are the current owners selling? And you should speak with neighbors and express your concerns. They usually love to tell you everything you would want to know! Just look for someone outside and introduce yourselves.

If you do not have representation, but would like to, I would love to interview for the position!
0 votes Thank Flag Link Mon Nov 9, 2009
You want to make sure that there are no issues regarding the road that may be a material fact, such as future road expansion, that you need to know about. Hopefully, you have agent representation, so you can communicate with your agent about researching any possible material facts relating to the road. I am assuming that you are speaking on a hypothetical basis regarding moving in 3 years. As nice as that home may be, please don't assume that there would be a financial benefit to moving that early. That may not be enough time for you to make any money on your home to go towards your next home. We don't know what the market has for us in the future but a conservative strategy would be best. I suggest to most homeowners that they look to be in a home for a longer term if they want to avoid writing a check at closing to sell a home instead of getting a check!!! Nonetheless, it is a great time to buy a home and I wish you all the success in the world!!!!
0 votes Thank Flag Link Mon Nov 9, 2009
Jeannine,
It is very smart of you to look long term and at resale value. If it is a busy road then my first question would be are there any plans to now or anytime in the future to widen that road? Your agent can easily find that out. The noise factor is a concern but if it is not that bad and you continue to crow the cypress and maybe add to that in the future to minimize the noise when you go to sell that may become a non issue. It is definitely a negotiation point. Speak with your agent and make sure about all the material facts on the road an the area.

In the end make sure it is the home you want.

Hope this helps,
0 votes Thank Flag Link Mon Nov 9, 2009
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