Home Buying in Buffalo Grove>Question Details

jddwilliams, Home Buyer in Buffalo Grove, IL

Will backing up to railway track be a big problem for a new 2013 in construction home?

Asked by jddwilliams, Buffalo Grove, IL Sat Apr 6, 2013

I am looking to buy a new 2013 constructed Rowhome in a very good subdivision of buffalo grove. I liked the subdivision, schools etc. Schools are top in the state (Half day, Stevenson, Daniel wright etc). But outside of garage backs up very close to the rail track. But the property is completely fenced so no danger of kids playing to there. Will it be a big problem for resell? It is a new 2013 home coming up in Q4 of 2013. Need some guidance and advise from expert agents covering the buffalo grove area. The sub division has very good land scaping, walking trail and is in walking distance to the Prairie View Metra station.

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6
Scott Godzyk’s answer
I lived a block from a track growing up and could still feel the rumble of the train and hear the whistle. You may get a big savings for picking that lot but when it is time to sell, the person buying will also want a discount because of the train. The key is if the house suits your needs and the lot is the best for you.
0 votes Thank Flag Link Sun Apr 7, 2013
Hi, it is of course a very personal decision even for yourselves, you are buying a property that is not
up and finished yet, so you do not know and cannot find out NOW how the train driving by will have and
effect on the property will the window rattle, or anything else vibrating or not, how often does the train
drive by etc. etc.

And yes for resale purposes, believe me even if the buyers do not really care they will of course use
the fact that the train is so close to offer less than you are asking for, but what is usually worse in a subdivision with other townhouses in better locations, buyers will prefer those before they will make an
offer on yours. So do you get a better deal now because of this location.... I would be careful, at
best think enough about it and see if you can afford a townhouse in a somewhat better location within
the subdivision.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
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0 votes Thank Flag Link Sun Apr 7, 2013
Hi,

Selling a home that is adjacent to railroad tracks will be very tough and you will sell it at big discount compared to other homes in the subdivision since most people will not even consider living by the tracks. If the railroad tracks and passing trains will not bother you and you getting a great deal compared to other homes it is something worth considering.

Paul Fijalkowski
Coldwell Banker Residential Brokerage
Tel. 847-532-2093
Paul.Fijalkowski@cbexchange.com
0 votes Thank Flag Link Sun Apr 7, 2013
Best to weigh the builder incentives to resale units pricing in that area. As for resale value, remember its where you spend your lives first and investment 2nd! Can you afford $100k more and still be in same schools? Question is, will it go down further than it already has, and in general, i say no, pricing is where it was ten years ago. Is there a lot of upside potential? Less upside potential than a property without the tracks adjacent. Last point, is backing to tracks worse than backing to Rt 83, Dundee or Arlington Heights road?
0 votes Thank Flag Link Sun Apr 7, 2013
JD

I believe you are referring to the Rowhomes on Waterbury Place, correct? Great units. There are 2 thing you want to consider in this subdivision. New vs used (the ones that were built in 2007) along with potential resale issues.

Since you asked about resale in your question, lets start there first. As you said this subdivision is in a highly desirable area. There are a % of people who will not consider a home on the railroad tracks. That % is pretty large. In the last year it looks like 15 people have bought into the neighborhood. The activity has been on either new homes or distressed properties. Right now resale is happening, but at a substantial discount to new.

If you are worried about resale, what is your time horizon to do so? If it is near term this is a money losing idea. I would strongly suggest understanding the used inventory better. There are more things to discuss to better help understand what is the appropriate decision for you. I currently have 2 homes under contract in Stevenson school district, so if you would like to talk more in depth, feel free to reach out.

Geoff Ommen
Broker Baird & Warner
847-271-2622
geoff.ommen@bairdwarner.com
http://www.geoffgetsit.com
0 votes Thank Flag Link Sun Apr 7, 2013
Mr Williams,

It is very hard to sell a home anywhere near railroad tracks let alone right next to one. What price range is this home in?

Kathy Diegel
The Peggy Cobrin Team
Coldwell Banker Residential
Call or Text 847-707-8907
Kathy.Diegel@cbexchange.com
0 votes Thank Flag Link Sun Apr 7, 2013
It is at 399,900.
Flag Sun Apr 7, 2013
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