We often say the best time to think about selling an Austin home is before you buy it. We spend a tremendous amount of time with our buyer clients evaluating an Austin home they’re interested in purchasing. We want them to know exactly what they’re getting into, especially if the home is going to be difficult to sell should they need to. Here are the top 9 locational flaws that affect Austin home values.
Locational Flaws are Critical
Locational flaws are the most important to understand. Why? Because your home’s location is something that cannot be changed. Virtually every other flaw can be fixed with some amount of money. But, locational flaws can never be changed no matter how much you’re willing to spend.
Backs to or is on a Busy Street
We call this the double yellow line rule. Homes that are on streets with a double yellow line or back to streets with a double yellow line tend to be less attractive to some buyers than homes on a less busy street. Many Mom’s see a busy street and immediately are turned off because of the danger it poses to their kids. Others just don’t want to deal with the traffic noise.
Near Commercial or Industrial Property
Commercial and industrial property tends to scare people away, especially when its mixed with residential. Most are turned off by the increased traffic, noise, smells and eye sore these types of properties create. If at all possible, avoid homes that back to or are next to any commercial or industrial spaces.
Backs to Freeway
Freeways tend to be very noisy at all hours of the day and night. If you’ve ever lived near a freeway, you know you eventually tune out the background noise and get used to it. However, there are a lot of people who won’t be as tolerant and will scratch a home off their list because its next to the freeway, no matter how cheap it is.
Next to a Convenience Store
Convenience stores have a lot of traffic and can be a place where people hang out. Usually places where people congregate make people nervous and some won’t want to live in close proximity.
Next to a High School
High schools are a good example of places where people congregate. They also tend to have a lot more traffic as most kids have their own cars. Thus if you live near a high school, often your street parking will be gone during school hours. If you work all day, you’ll probably not notice the inconvenience. However, for those that work from home or who don’t work regular hours, the increased activity does make many look elsewhere.
Near a Fire Station
The school of thinking on this is mixed. Some like the piece of mind that the fire department is close by and will tolerate the blaring sirens at 3 o’clock in the morning. Others won’t tolerate the noise and therefore will choose a home a bit further away.
Near Train Tracks
Trains are loud and come by at all times of the day and night. In most areas, they are required to blow their horns through intersections making them more intrusive.
Under Power Lines
Many people are leery of power lines and don’t want to live in close proximity. There are several buyers we’ve worked with who won’t even go into a home with power lines overhead.
Next to a Water Tower
Though there don’t seem to be health risks involved, most people we’ve worked with don’t want to look at an ugly eye sore everyday.
Does this Mean You Shouldn’t Buy a House with One of These Flaws?
We’re not saying don’t buy a home with one of these locational flaws. What we are saying is know that some people might be scared away by these flaws. Homes with one or more of these locational flaws tend to take longer to sell and sell for less than homes without them. So, at the very least, if you do buy a home with one of these locational flaws, buy it at a discount and expect you’ll have to sell it at a discount when the time comes.
Need Help Buying a Home in Austin?
With a combined 55+ years of experience and $250MM of real estate sold, there isn’t much we haven’t seen or can’t handle. If you’re looking for an Austin buyer’s agent who will help you evaluate homes, not just sell you the most expensive home you can afford, we might be the right buyer’s agents for you. For more info about our team and how we work, check out our Austin Home Buyer Guide for more inof. Then call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Buyer Survey to get started.
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