Homes next to highways will, usually, always be an issue. For refinancing, what Iâ€™ve found is that home prices will fluctuate more when they are located next to major highways, so your home value will be higher or lower depending on the available comps in your area at the time of the appraisal. Now for selling the home, it will usually take you longer to sell. Most homes that offer some sort of freeway location or busy street location will usually be much nicer than many of the homes in many areas.
This is because the homes that offer a poor location have to make it up, such as larger outbuilding, larger lot, nicer kitchen and bathrooms, etc. Personally, Iâ€™d go with the location first. If you buy a home in a poor location, you can never change this. If you buy a home is a good location, but the homes needs updating, you can update the home as you get the money. Especially if the home does not offer larger lot size that is useable, larger outbuilding or garage count, has been updated extensively with new roof, heating, cooling, windows, kitchen and bathrooms. Think big ticket items, too. Not a few flowers outside or new door knobs.