This episode isn't just about busy roads; it focuses on factors impacting livability and capital growth, particularly location.Many of my clients avoid busy roads, but some are open to them. It's a subjective decision, but buyers should be aware of the potential drawbacks.In this episode I run through - Livability Considerations:Main Road Factors: Noise, safety, pollution (air and potentially visual), getting in and out of the property, aesthetics, tram lines, speed humps.Different Levels of Busy Roads: Not all...
This episode isn't just about busy roads; it focuses on factors impacting livability and capital growth, particularly location.
Many of my clients avoid busy roads, but some are open to them. It's a subjective decision, but buyers should be aware of the potential drawbacks.
In this episode I run through -
Livability Considerations:
Main Road Factors: Noise, safety, pollution (air and potentially visual), getting in and out of the property, aesthetics, tram lines, speed humps.
Different Levels of Busy Roads: Not all busy roads are the same.
Different Times of Day: Consider how busy the road is at various times.
Google Maps: Use Google Maps to understand the thickness (number of lanes) of the road.
Setback from the Busy Road: Busy road but set back in the block can mitigate some issues.
Public acquisition overlays (potential future road widening).
Proximity (a few houses back): Topography can affect noise; near a freeway, noise can carry far.
Proximity to Amenities/Disruptions:
Next to a pub/shops (noise, traffic).
Near industrial/commercial zoning (noise, traffic, potential odors).
Train line/airport (noise).
Social housing (potential for increased activity).
Transmission power lines (potential health concerns, aesthetics).
Blocks of vacant land/development sites (potential for future disruption).
Other Considerations:
Overcapitalizing: You might overcapitalize by extensively renovating a property on a main road.
Discounted Properties: Bigger blocks with rundown properties on main roads might be discounted (Fairfield example: $1.1m vs. $1.7m).
Growth Zoning and Main Roads: Consider growth zoning and buying near main road projects/developments (potential for future changes).
Buying Near Big Road Projects/Developments: Be aware of potential disruptions during construction and long-term impact.
When Buying a HOME, What's Important?
Ticking Your Own Boxes: Prioritize what's important to you, but consider future capital growth.
Buying at a Discount: You might get a discount on a busy road property, but it could be harder to sell and potentially at a bigger discount in softer markets.
Compromise: Consider buying on a busy road or another compromise (e.g., further from the city).
Key Takeaway:
Sometimes, being on a busy road allows you to get into a suburb you couldn't otherwise afford, or a renovated property, or into a certain school zone. This highlights the trade-offs involved.
Keen to know more? Visit www.thefirsthomeguidebook.com.au
