Why you might want a house that others don’t

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Front door of a home opening into the entryway with key still in lock

02/03/2017 | Author: Marty Kramer

There aren't many people who ask their REALTOR® to find them a house that backs up to railroad tracks or sits under a flight path. Buyers tend not to be attracted to homes on busy streets or next to a large business developments. That's where the laws of supply and demand can work in your favor.

When lots of people don't want something, the price is cheaper. So if you want to get in a neighborhood that's a stretch for your budget, you might consider homes with a so-called undesirable quality. That could also help you afford a larger or nicer home than you would otherwise find in your price range.

You might even decide that some of these perceived drawbacks are actually benefits. For example, the noise and activity of a busy elementary school across the street will turn off many buyers, but consider how convenient the playground—and the school itself—would be for your young kids. Airplane noises go hand in hand with quick trips to the airport. A busy street may help you get where you want to go faster, too. 

If you want to explore properties that are more affordable due to factors that turn off some buyers, talk with your REALTOR® about your options.

Categories: Business tips, Buyers
Tags: buyers, buying, homebuyers


Comments

Darlene Howell on 02/12/2017

In my opinion, living very near a railroad track, in a dense urban area, depending on the area, some property values are not effected.  Property value, noise, and foundation issues could be a concern.  I loved living on a railroad track.


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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