Highway Noise Can Reduce Home Value

Dated: 12/16/2018

Views: 196

What if you find the home of your dreams but it's too close to highway noise? If the highway noise doesn't bother you, should you buy it anyway?

Take a look at this aerial view of this wonderful home on 1.15 acres of both cleared and wooded lot. It is a dream enclave.

 

Ripple Creek Dr <a href='https://dh.sellbuylouisvillehomes.com/index.php?types[]=1&types[]=2&areas[]=city:Louisville&beds=0&baths=0&min=0&max=100000000&map=0&quick=1&submit=Search' title='Search Properties in Louisville'>Louisville</a> KY

 

Now take a look at the same property, with the very critical feature of its proximity to Interstate I-65. This section of I-65 is heavily travelled and is within the city limits of Louisville, KY.

Ripple Creek <a href='https://dh.sellbuylouisvillehomes.com/index.php?types[]=1&types[]=2&areas[]=city:Louisville&beds=0&baths=0&min=0&max=100000000&map=0&quick=1&submit=Search' title='Search Properties in Louisville'>Louisville</a> KY I-65

Although some people would not mind the highway noise, there are many who would not even take a look at the house once they got out of their car and heard the noise.

The smaller pool of buyers willing to put up with the noise results in lower demand which causes a reduction in value and price. The noise factor could easily reduce the resale value of the home by many tens of thousands of dollars.

Therefore, when buying a home so proximal to a noisy highway, make sure that you get it at a low enough price to offset the future lower resale value when it is time for you to find a buyer.

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Dave Halpern

Dave Halpern, Realtor, CDPE, is the tireless and dedicated leader of the Dave Halpern Real Estate Group. Dave’s extensive background in negotiating and successfully closing complex real estate trans....

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