In this blog, we will answer the question of how much does a busy street affect resale value?

Real estate investing can be tricky most times, but there are certain realities that play out in almost every real estate transaction. Any professional realtor, for instance, will tell you that one of the most important factors to consider when estimating a home’s value is the location. There are internal and external location factors. While some are easy to recognize, some others are a little too difficult to estimate.

For beginners in real estate investing, a busy street may not ring a bell or appear as a critical factor. Nevertheless, it affects the resale value of a home. But how much does a busy street affect resale value? Aniya Equity LLC, your reliable real estate solutions company, will provide answers to your questions: How Much Does A Busy Street Affect Resale Value?

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    What Is The Deal About Busy Streets?

    You may not truly understand the reality of a busy street until you live in one. There are advantages attached to it, as well as disadvantages that push potential buyers away. On the positive side, busy streets normally offer easy access to public transportation.

    Sell a House on Busy Street

    In most instances, it gives residents easy access to main city attractions. Depending on the city or town, busy streets may be maintained by the local city government, taking the responsibility off the shoulders of residents. Buyers and renters also enjoy price discounts when they buy/rent houses that are located on busy streets.

    Just as there are advantages to buying or living in a house on a busy street, there are disadvantages you will have to deal with. The most obvious challenge of living in such houses is noise pollution. A typical busy street is full of traffic, horns blaring, so many individuals and different activities that contribute to noise pollution, which is annoying and potentially hazardous.

    Furthermore, air pollution is another major problem with a busy street. The air quality is mostly bad in busy streets due to the high level of human activities. Poor air quality causes eyes, nose, and throat irritation. It also aggravates asthma and exposes individuals to other health hazards. Safety concerns, minimal privacy, and parking problems are other issues associated with houses on a busy street.

    The resale value of such houses (which is our primary concern) at Aniya Equity LLC is another important factor to consider.

    Busy Street and Resale Value

    If you are buying a house with the intention of selling it for profit, it is super important that you consider the effect of a busy street on the resale value. The truth is, no matter how wonderful the house is, the location will have a significant influence on desirability and price. A busy street is one of the critical location factors to consider. You have to accept the possibility of being forced to sell for a lower price. At the same time, you need to be careful when making any decision.

    But just how strong is the relationship between a busy street and the resale value of a house? We will say it is pretty strong. Many houses on busy streets are estimated to worth between 10% and 20% less than they would be if they were on quiet streets. Getting potential buyers that would be interested in such properties can be challenging, too, and this will further affect what you can get when reselling the property.

    Even for regular homeowners, a house in a busy street can become a problem in certain economic situations. If there are so many houses for sale in the market, the values of houses on busy streets will generally drop further. Very low home value can make regular homeowners become underwater on their mortgage. Some may have to foreclose on their house as a result.

    Read More: Can You Sell a House with a Mortgage?

    Selling a House on a Busy Street

    While a busy street will affect the resale value of a house, it doesn’t really mean that you can’t sell the house. In fact, you can still sell for a good price, but it will require some extra effort. There is nothing you can do about the street the house is located, but you can do a lot to make the house desirable for buyers. There are few things you can do to get some potential homebuyers to look beyond the busy street and appreciate the property you are selling.

    Make all necessary repairs and keep the house in great condition. You can also reach out to special investors who wouldn’t mind the location of your property. Aniya Equity is one of such investors in Tennessee and Kentucky that will offer great deals, even for a house on a busy street.

    Sell a House on Busy Street

    Other Factors That Can Influence the Resale Value of Houses on Busy Streets

    The values of all houses are affected by factors other than how busy their streets are. Other factors you need to realize are:

    Type and Condition of the House

    A regular house will have its value reduced by up to 20% if it is located on a busy street; this is not the same for condo properties. The resale value of condo properties may actually go up if they are located next to the main road.

    The Market Condition

    Depending on the real estate listing at the time you decide to sell your house that is located on a busy street, the value may go up or down. When there are few more listings, buyers will be willing to overlook the traffic and accept your offer.

    All about the Neighborhood

    The neighborhood will also affect the resale value of a house that is located on a busy street. While the value may not be the same with prices of properties in the quieter part of the neighborhood, it will likely appreciate in value at almost the same rate as all others.

    Selling Time

    The time it takes to find a buyer for your home can also affect how much you will get for it. A longer selling time will inconvenience you as a seller and also drive down the value as buyers will always want a discount for a house that is proving hard to sell.

    A busy street affects the resale value of a house. That doesn’t mean such a house will prove unsaleable; you just have to put it in order and highlight the good side of the deal for potential buyers. If you are in Tennessee or Kentucky, you will enjoy the experience of working with Aniya Equity.

    Sell Your House Fast | We Buy Houses

    For a free, no-obligation consultation call: 615-669-1610, or Fill Out This Form For Your FAIR Offer