SA Buying a property on a main road or a highway - is that ok to do ?

Hi guys,

I look at various properties to purchase available right on a highway with lot of noise and wonder why the council would allow it and why would someone buy there ?

There is a lot of noise - is it correct to assume that this would effect the value of the property ? Is there any way to complete stop this noise - like soundproofing the property - is that possible to do ?

Specifically, for example, what do you think of this property from a noise perspective (and also in general)

15 Main Road, Belair, SA 5052

Thank you

 

Id avoid it

 

Avoid this property or any house on the highway in general ?

 

What is the purpose in buying? If you plan to live in it it depends entirely on you.

 

Mostly the highway

 

Main roads in general.

This one specifically is the on the main intersection of the town.

 

Wouldn't touch it with a barge pole ... always remember, if you buy something cheap because of something that is un-changable about the location makes it undesirable, it will always be cheap and undesirable because of the location.

 

Do you see future development opportunities?

Many “cheap” main road properties can take a substantial jump in value if commercial options occur.
Marg

 

Agree - could be a good opportunity, but need to have the cash to hold for what might be a long time ... and the risk is always there that the area may not come to fruition at all

 

Just a small example, my unit i bought to live in is one street off busy Thomson Rd in Norlane....my nephew regularly plays up the street with several other kids who live in the same street, and the relative absence of traffic is quite reassuring to know. But i doubt my sister and any others would be quite so happy for them to be playing along Thomson Rd, a main thoroughfare. One street away, but i can clearly see the difference, especially if any prospective tenants are likely to have children.

 

As a person living there I'd hate to have the median strip right in front. Means you have to always be coming home from North direction. What if you come from South on your commute back home? Where do you turn around? Turn into the servo up the road and turn around there?

 

I remember visiting the house of a work colleague who lived on the great western highway in parramatta and thinking “why would you ever want to live in a fibro shack on this main road next to a petrol station”.
She sold that house for 5 million dollars when it was rezoned and it was all tax free.
Turns out her dad was a very savvy property investor and gave her some great advice that set her up for life.

So I agree with @Marg4000 - main road can be a great investment sometimes.

 

Looking very long term, I wonder if the stigma of property on major roads will decrease once electric cars and trucks are more common - as they will create less noise and pollution?

 

I wouldn't mind busy road in Belair if was out of the heart of the city and you're on a large block with decent setback.
Thats close to the road, which not only had traffic both ways but a turning lane out the front.
PASS

 

OP I'm also looking at the same type of investment but in Brisbane.

Example: 173 Jubilee Terrace, Bardon, Qld 4065
148 Coopers Camp Road, Bardon, Qld 4065.

From what I can gather from other threads and net discussions, a more balanced view is that you buy in at a lower price point into good suburbs but the capital growth generally tracks with the suburb. My only major concern is infrastructure/road changes (e.g., road widening - think compulsory Govt acquisitions - to a point I think you can check on this through purchasing a report on future transport considerations).

I also like the idea of buying close as possible to CBD - good rental appeal due to ease of access regardless of where the house is.

I know Belair (checked properties there in late Jan) - nice area, good size blocks (setback) - cannot see this area not going up in value due to proximity to CBD and size of blocks (quasi-rural lifestyle).
As you know, some have good views - even of the CBD.

On the downside - fire is always a risk in the area -needs consideration - insurance costs?; single road down the hill - problematic congestion during peak times if you owner-occupy.

Interested to hear others take on purchasing on main roads.

 

But you also have to wonder what main roads will rezone to - for decades shopping strips have failing due to mega shopping centres - and now shopping centres are beginning to flounder due to online shopping

This is an interesting read into the future of cities

Rethinking the city means rethinking economics - The Fifth Estate

 

Main roads are an detraction for most people for various reasons. Properties on or near them are usually cheaper which means any potential for growth will also be less that other desirable locations. Of course, the difference in price can also grow by the difference in price (if that makes sense).

Remember, you have to rent it out too and it will be harder to do this on a main road so plan for additional vacancy.

- Andrew

 

You can always investigate opportunities for compatible usage, signage, semi commercial, home business base etc. I have seen pest companies, accountants, medical centres, and many other small businesses benefit from being able to advertise on main road (whether they are the primary tenant in the house or even if not sometimes) check council rules of course and the above comments about once cheap always cheap remain true. Just trying to think of ways to add value or income.

 

I like Marg's point that buying on a main road could allow for future re-zoning and development opportunities depending on where you are. Assuming you are renting and assuming it is offered at a good price it may be worth considering as a future high density development site.