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Buying near freeway

Discussion in 'Where to Buy' started by UrbanDingo, 4th Jul, 2016.

  1. UrbanDingo

    UrbanDingo Member

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    29th Jul, 2015
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    Melbourne
    Should one buy property near freeway.....how much affect this have on Capital growth.......I saw a house which is not right slam bang on freeway but like one street away.........Standing outside house one can hear the noise.......inside was fine......Would you guys consider this sort of property.....naturally had a good access to freeway that was positive
     
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    My feeling is it will always be worth less than something further away from the noise and harder/more difficult to sell than a regular house without the noise unless you are lucky enough to have a rezoning for higher density.
     
  3. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    No, not as a first choice IMO.

    In general terms, CG will be the same across all properties in the same suburb. The issues are:
    1. Higher vacancy rates due to turnover of tenants
    2. Time taken to sell if you need to get out of the investment
    3. Level of discounting required to get a sale in a hurry, if you need to exit the investment

    That's fine if you want to live your life trapped indoors with all the doors and windows shut. :rolleyes:. Lots of people like to be outside for a BBQ etc.

    No. The only time I'd consider this type of property would be where it is on the main road and you need the exposure for business purposes.
     
  4. Ember

    Ember Well-Known Member

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    Location:
    Australia
    Depends on the discount. We bought ip backing onto main road in excellent suburb. Was 25% cheaper than house 2 doors from main road so worthwhile for us. Rented on Day 1 too.