Resale porential of a house right across the street from a public self-storage facility?

Asked by Kb, Fremont, CA Tue Jun 18, 2013

I like this house which has everything that I like but is right across from a public self- storage facility. I am wondering if it would be prudent to invest in it. I would remain there long term if I were to buy it.

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8
The Medford…, Agent, Fremont, CA
Wed Jun 19, 2013
As stated below, there are two issues:

1. Will you be happy living there for a long time? If you are OK with the storage facility, then it works for you. If other buyers out there have the same concern, you may actually get a better house for a bit less than in other locations.
2. Resale will be a bit of an issue depending on when you sell. In reality, every home in that location is occupied so it’s not a matter of “will it sell”, it’s more an issue of “at what price.” In a hot market, selling for top dollar won’t be a major issue; in a slow market, you’ll get a bit less.
1 vote
89jackmoore, Home Buyer, New York, NY
Thu Sep 17, 2015
Personally, I think that would depend heavily on you personally. If you plan on using that specific storage facility, then that would definitely be a pro. If you aren't, then I'd look at expected traffic, noise, and other things that will affect your experience there. If those cons don't outweigh the other pros you like about the house, I'd say go for it! http://www.storagestation.ca/self-storage-surrey-bc.htm
0 votes
Ali Qureshi, Agent, Pleasanton, CA
Tue Apr 8, 2014
What did you end up doing? Buying or passing on it?
0 votes
Brian Ripp, Agent, Fremont, CA
Wed Jun 19, 2013
Hi KB

If the house has everything you like, and you have no second choice - you might seriously consider making an offer that you feel good with.

Future value of the home? That will always be determined by the market conditions. Right now the market is hot. As long as the self-storage facility is well kept it should be fine. I don't think the storage facility will create a lot of traffic or people hanging around, so it should be a safe & quite neighbor. Make sure the zoning for your potential property is 'residential' and not 'commercial".

good luck,
Brian
0 votes
Dawn Rivera, Agent, Fremont, CA
Wed Jun 19, 2013
Hi Kb, I have to agree with Carl his answer is spot on. The only thing I can add is with location issues of this nature. I have found there are some people to whom it will not matter at all and there are some to whom it will be a deal breaker, but that is true of other things as well. As Carl said if you like it and don't have a problem with the location then buy it. If you plan to live there a long time, you will most definitely earn an investment.... Good Luck, Dawn
0 votes
Joe Patel, Agent, San Ramon, CA
Wed Jun 19, 2013
Real estate is location location location.It might effect the resale value but you mention that you are staying for long term.The value of the home most of the time goes up in long term.I hope it helps.Good Luck!!!!
0 votes
Charo Bhatt, Agent, Fremont, CA
Tue Jun 18, 2013
Hi Kb,

I am so glad that you are coming to trulia platform for professional advice for your investment and it’s return. I believe this will be your prime residence and you plan to make this property an owner occupied for an extended term.

The fact is market conditions changes time to time depending on economic conditions of US and the world. At this time housing prices are rising. Our local Fremont housing market is very hot. You are buying in seller’s market, meaning you are paying higher price today then you would have paid when it was buyer’s market.

You have concern about property being across from the public storage facility, when you are ready to sale it, your buyers may have the similar concern. If you will sale this property in buyer’s market you may not gain as much. You too should sale it in seller’s market to realize higher profit.

Following are some points to keep in mind which will also help in maintaining the market value.

• Property located in good school district.
• Property has good floor plan and reasonably good sized lot.
• Property newly upgraded today and will not wear out by the time you are ready to sale. (meaning you don’t have to invest any money to renovate or upgrade before you sale; so that you can maximize your profit)

It’s good idea to keep a real estate professional on your side who is experienced, skilled and a good negotiator to get the best possible deal.

Good luck to you,

Charo Bhatt
510-381-2105
Web Reference:  http://www.HomesByCharo.com
0 votes
Larry Galleg…, Agent, Fremont, CA
Tue Jun 18, 2013
If you like it, buy it.

When you sell it, you'll just have to have the right agent to market your home the right way to find a buyer like you that likes the home also.

Simple.

This is really up to you.


Best Regards,

Larry Gallegos
Real Estate Collaborative Specialist-Divorce

Broker Consultant, e-Pro Certified
CRS-Certified Residential Specialist
Luxury Home Specialist
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Better Homes and Gardens Real Estate, Mason-McDuffie
43430 Mission Blvd., Fremont, CA. 94539
(Corner of Mission & Mission Tierra)
Direct (510)-492-4872, Fax (510)-217-4249
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0 votes
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