Home Buying in Atlanta>Question Details

Cm, Home Seller in Atlanta, GA

buying a home near a higway

Asked by Cm, Atlanta, GA Sun Feb 24, 2013

we have a good deal on a house next to highway in atlanta. there is a buffer of trees , but we can hear it. lot is acre / half. is this a mistake to buy?

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Generally it is a bad idea. If you get a killer deal you will be in a position to offer a killer deal to the next buyer. Knowing you will have to discount the property to sell it are you comfortable with the noise for as long as you live in the house. People generally look at a home as a place of peace, quiet, serenity, retreat, respite. These are inconsistent with a highway. You should be getting a discount based on how close to the highway and how busy a highway your property abuts.

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1 vote Thank Flag Link Sun Feb 24, 2013
If you decide to purchase this home, the highway and its distractions will likely deminish as time passes.

The decision is yours but there is a reason why it's a good deal.... as good as the deal is today, the highway will still be there when you get around to selling it in the future.
1 vote Thank Flag Link Sun Feb 24, 2013
I just wrote this email to my client, looking at a shadow inventory house in Underwood Hills - copy/paste:

"Nothing on record for lease or for sale in either MLS going back years. Someone held this for awhile.

So what are some of your thoughts on this shadow of shadows?

And, dude - a highway house?

What if the highway needed work?

What if debris flew into your yard?

What about the noise?

How long will it take to resell when you want to resell it? Well a good place to start is with this shadow of shadows of a property, and with a bank as the defaulted owner struggling with a house that is quite difficult to value unless you value it low low low...

I can not suggest paying more than $150000 for this house - you could lease this for $1500-1700, maybe, as long as it's in good shape..."
1 vote Thank Flag Link Sun Feb 24, 2013
Think the point has been made. Of course you'll get a good deal.....

This is considered an adverse external influence and it will be considered on any appraisal. The degree of adverse influence is best derived from using "paired sales analysis" - finding similar homes with the exception of the highway. However....

Common sense is clear, there are multiple concerns with something like this; there is a demonstrated negative impact on value and appeal and you will need to chop price when it's time to sell. You better buy it real cheap because you will need to sell it real cheap.

Web Reference: http://www.hmtatlanta.com
0 votes Thank Flag Link Wed Feb 27, 2013
You will probably get used to the traffic and not hear the highway in the future. The real problem will be when you are ready to resell your home. Potential buyers will have a hard time getting past this aspect of the property.
0 votes Thank Flag Link Tue Feb 26, 2013
Ask your real estate agent to see comparables of houses recently sold in that area and see if you are getting a great deal, otherwise is not recommend because it can take longer to resale a property like that.

Best of Luck,

Maria Cipollone

Century 21 Tenace

0 votes Thank Flag Link Tue Feb 26, 2013
Only you know the value of a mistake, brother.
0 votes Thank Flag Link Sun Feb 24, 2013
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