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Buying on rail line

Discussion in 'Where to Buy' started by dan2101, 27th Jul, 2015.

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  1. dan2101

    dan2101 Well-Known Member

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    Hi all,

    Just a quick question. About to put an offer in on a property located 90m from the rail line in keperra Brisbane. It's just an inter urban line, no freight trains. Starting to get cold feet. The numbers all stack up but is this too close? There is a row of houses and a street between the house I'm interested in and the rail line so it is out of site.

    Anyone's thoughts would be appreciated!

    Cheers
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    It's marginal. It is not what you'd call investment grade property.

    Bear in mind if you are having second thoughts, so will a future tenant or intending purchaser.
     
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  3. Chilliblue

    Chilliblue Well-Known Member

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    Agree with Alan.

    The potential pool of would be tenants and/or owners generally are diminished in these circumstances - especially if can hear the trains.
     
  4. dan2101

    dan2101 Well-Known Member

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    Thanks guys

    The thing is sales history of other houses in the street appears to be in line with the rest of the suburb. It is currently tenanted at $400/week which Is pretty standard for the suburb.

    Anyone from Brisbane have any knowledge of the keperra/ferny grove line and whether locals worry about living nearby?

    Thanks!
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Have you been there? Critical to get on the ground and hear/feel it for yourself when it comes to train noise.

    The only time I would consider buying that close is if I was grabbing a big wad of land with the high probability of a future rezoning and the ability to offload it to a developer down the track for a handsome profit.
     
  6. Azazel

    Azazel Well-Known Member

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    Depending on where you are out there, you can hear it if you're further away than that. When they honk their horns it's pretty annoying.
    But I wouldn't go for a house that close to the train line out there. Closest I lived was about 250m to Mitchelton station.
    Is it closer to a station or between stations, like are they slow there or full speed?
     
  7. dan2101

    dan2101 Well-Known Member

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    Thanks Steve. Not yet I'm flying up Wednesday. Was in the vicinity last weekend. The rail line basically runs through the middle of keperra. Address is 1 Bardon street. I've attached a map

    Thanks
     

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  8. S.T

    S.T Well-Known Member

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    How close is to a train station? If it's close-ish might be handy for commuters. I grew up probably 100m from a train line and 500m from the station, was great as a teenager to get around and into the city.

    If it's close to a level crossing, that could be bad though - noisy with the bells.
     
  9. S.T

    S.T Well-Known Member

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    Hey Dan, word of warning about disclosing actual addresses of properties on a public forum that you want to buy. Anyone can see and potentially gazump you to the deal.
     
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  10. dan2101

    dan2101 Well-Known Member

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    It's the brown roof on the corner of burdon and Avington
     
  11. Azazel

    Azazel Well-Known Member

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    Yeah, I think it's fairly flat there, sound would really carry through there. You would definitely notice it more at night. But then, if the tenants don't care...
    But then they might not always be renting there..
     
  12. dan2101

    dan2101 Well-Known Member

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    Thanks all!

    It's about 1.5km to station. And u wouldn't normally post the address but it's not online yet so not too concerned. Sounds like it might be one to avoid.
     
  13. Waldo

    Waldo Well-Known Member

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    If theres no discounting versus a house thats not right next to the train line, why would you buy there? Better off buying further away.

    If you're right on top of the trainline, you'd want some form of discount to make it worth your while.
     
  14. Azazel

    Azazel Well-Known Member

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    True, with the amount of houses that are for sale each year, why buy the one on the train line (or main road).
     
  15. dan2101

    dan2101 Well-Known Member

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    I guess my point was more that houses have sold in the street at a decent price in the past? It's 415k so slightly discounted for a 3 bed brick and tile.
     
  16. Pistonbroke

    Pistonbroke Well-Known Member

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    1.5km from the station isn't near transport as you'd have to catch a bus or drive /ride overwriting any benefit of being near transport.
     
  17. Beelzebub

    Beelzebub Well-Known Member

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    I hear 800m from a station is the sweet spot.
     
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  18. Hanison

    Hanison Well-Known Member

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    I know the street. I had girlfriend in high school that lived on that street.
    It gets very noisy.
     
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  19. C-mac

    C-mac Well-Known Member

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    Personally I wouldn't touch housing stock that is 90m from train stations. The exception (perhaps, but probably even this wouldn't be enough to make me uy oser than 300m to a train station) would be... unless all sleeping and living room windows were seriously double or triple glazed.
     
  20. Azazel

    Azazel Well-Known Member

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    Yeah, even then if you're too close the vibration and noise goes right through the house/apartment anyway.
    I wonder how the people living in the apartments they're building above stations are going.