PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Re-sale near a motorway

Options
Michaelangelo117
Michaelangelo117 Posts: 4 Newbie
in House buying, renting & selling
Hello All,

Your thoughts please on the situation I am facing :

First time buyer, budget of 300K. Would prefer a new built. Would want to sell this property in 8-9 years and move on to another location. Saw a house which ticked most boxes.

Pro's:

1. Decent bus and train connectivity
2. 2 minute drive to a huge country park.
3. 5 minute walk away from a big shopping mall. Has a 24 hour Tesco and a fuel station as well attached to it.
4. City centre is a 15 minute drive.
5. Fairly well priced. Gives us extra cash for a conservatory in the near future.
6. House is designed to our liking.

Cons:

1. 100 m from a motorway.
2. Average public schools.

Personally for us, living near a motorway isn't a major issue as we don't mind the noise. Considering we are quite keen on moving on to another area ( mainly for want of better schools) in another 8-9 years, we are wondering if we would face difficulties trying to sell off the property. Or will the proximity to the shopping mall be a factor in getting us a decent deal? Your thoughts please!

p.s - There are other houses in this development, located a bit further away from the motorway (say 200m). Although they aren't especially to our liking, would they fare better in a re-sale market due to their slightly better location?
«13

Comments

  • ashe
    ashe Posts: 1,551 Forumite
    First Post Name Dropper Photogenic First Anniversary
    Options
    Living so close to a motorway is two sided coin, some people will prefer the transport links, but a good portion of the market will be people that either dont like noise when relaxing in the garden, or have kids/pets that they wouldnt be able to relax knowing a dangerous road is so close, you would be ruling out a fairly large section of the market for that I think.
  • Tom99
    Tom99 Posts: 5,371 Forumite
    First Post First Anniversary
    Options
    100m from a motorway will put a lot of people off so factor that into your offer.
  • z1a
    z1a Posts: 2,522 Forumite
    First Anniversary First Post Combo Breaker
    Options
    Close to a motorway doesn't necessarily mean close to an access junction.
  • steampowered
    steampowered Posts: 6,176 Forumite
    First Anniversary Name Dropper First Post
    Options
    The house sounds absolutely perfect for someone like me - i.e. a professional, working full time, no children, doesn't mind being near a motorway.

    Obviously it would not be perfect for a family.

    I think it is not really possible to predict where the market will be in 8-9 years time. Every house is going to appeal to different people depending on their personal requirements.

    8-9 years is quite a long time so I think you should pick the property that works for you. If it works for you now it will work for other people in future.
  • Michaelangelo117
    Michaelangelo117 Posts: 4 Newbie
    Options
    Just to give you some perspective, we have 4 month old twin girls. We want to move to a house with a garden and buy a dog soon. The motorway is well shielded from the development. Although the house we like faces the motorway, development is in an elevated terrain and there is a fence, a row of trees, not really tall though, and a proposed garden protecting us from the motorway.
    Thanks for your comments.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Options
    When I was looking for a property for my partner we looked at one that was 100m or so away from the motorway, you could hear the constant noise which in the summer with windows open would be horrible... Make sure you are getting a really good deal as the only way you will sell is for it to be cheap as your pool of buyers will be vastly reduced.
  • Michaelangelo117
    Michaelangelo117 Posts: 4 Newbie
    Options
    The quoted price for the house is 260k. How much should I bargain to make it a good deal? The house comes with a fitted kitchen with the gas burner, hood and double oven. We need to spend on flooring, garden and cupboards. Plus the solicitor fee, surveyor fee, furnitures etc.
  • Money_maker
    Money_maker Posts: 5,471 Forumite
    Combo Breaker First Post First Anniversary
    Options
    buggy_boy wrote: »
    When I was looking for a property for my partner we looked at one that was 100m or so away from the motorway, you could hear the constant noise which in the summer with windows open would be horrible... Make sure you are getting a really good deal as the only way you will sell is for it to be cheap as your pool of buyers will be vastly reduced.
    I should think the fumes wouldn't be very healthy either. Not somewhere most people would want to raise children.
    Please do not quote spam as this enables it to 'live on' once the spam post is removed. ;)

    If you quote me, don't forget the capital 'M'

    Declutterers of the world - unite! :rotfl::rotfl:
  • TamsinC
    TamsinC Posts: 625 Forumite
    Options
    I live near a motorway - no choice MOD rented quarters - about 400m as the crow flies. I hate the noise especially at night in the summer when I need the windows open. It's the M54 so not even a huge motorway. I will never buy where I can hear constant road noise. But for many others it will be fine.
    “Isn't this enough? Just this world? Just this beautiful, complex
    Wonderfully unfathomable, natural world” Tim Minchin
  • kinger101
    kinger101 Posts: 6,282 Forumite
    First Anniversary Name Dropper First Post
    Options
    Michaelangelo117 wrote: »
    The quoted price for the house is 260k. How much should I bargain to make it a good deal? The house comes with a fitted kitchen with the gas burner, hood and double oven. We need to spend on flooring, garden and cupboards. Plus the solicitor fee, surveyor fee, furnitures etc.

    Most likely, the fact that it's near a motorway has already been factored into the price. Was it cheaper than an equivalent property in a quieter location?

    You can search recent sold prices on RM.

    Otherwise, your question on what's a good bargain can be answered
    "How long is a piece of string".
    "Real knowledge is to know the extent of one's ignorance" - Confucius
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards