Flat backing onto train line

travel_freak

Hi there,
I posted yesterday but no replies yet so here goes again - really grateful for any advice.

I've seen a flat I'd really like to buy. It is on with an agent outside the immediate area and all the research I've done seems to suggest it is priced about £20k below what it should be for its size/type and the area. It backs onto a railway line and I've read posts on here saying that such properties are usually cheaper.

I'm coming under pressure to reach a decision on the purchase or lose the place - can anyone help as to whether £20k would be a "normal" reduction just because of the railway line as it seems a heck of a lot to me.

My concern is that perhaps there's something else wrong with the place that I just haven't noticed yet...

If it is the case that around £20k is correct then I'd have to think about this carefully in terms of re-sale later on and also in terms of whether a down valuation on survey might mean that I can't get the mortgage I need.

Many thanks in advance.

sanfrancisco

It is hard to say whether 20k is a good reduction or not. First we don't know area/property. Secondly, 20k reduction from £1m is not so great, but on an £80k flat it's bloody good. So, how much is it on for?

Please don't feel pressure to put an offer in. The Estate Agents are playing a game with you, to try and force your hand. Take your time and be sure this is the right move for you. How long has the property been on the market?

Have you checked https://www.nethouseprices.com to find ACTUAL selling prices for flats in same block?

lynzpower

Incidentally, I love living near a railway line, reminds me of a astreetcar named desire ( my favourite play), and to be honest, It was the tipping point for me buying the flat . Additionally I was raised under the flightpath of Ringway airport so I find transport noise rather soothing.

Maybe Im mad, but I wont be the only one

rkuk

lynzpower wrote:

Incidentally, I love living near a railway line, reminds me of a astreetcar named desire ( my favourite play), and to be honest, It was the tipping point for me buying the flat . Additionally I was raised under the flightpath of Ringway airport so I find transport noise rather soothing.

Maybe Im mad, but I wont be the only one

I currently live facing onto railway line, everyone always asks me: "do u not hear the noise from the trains" but I'm so used to it I couldn't even tell anyone what teh regular times are (albeit it's only one little line). I like living here, I think it brings a bit of quaintness (wording) and tranquility, yet reminds me of growing up, and counting the coal carriages on a summer's day....I always lost count, maybe it's a sign of my poor understanding of all these finances! hahah

whatever you choose good luck mate, some sound advice on here from others. as said if you give teh property prices etc, then it can help to approximate a realistic probability of a good deal....well...whilst excluding the actual physical characteristics of the place.

sarah_elton

Erm, I wouldn't say I love it, but I look over a railway line and have no problem at all with it. I'm sure I read once upon a time that train noise is far less offensive to the brain than road noise, and I'd certainly say that's true. Look at how near the station you are. I'm near the town station, so the majority of trains are going slow as they've just pulled away or are stopping. It's only through and freight trains that really register with me now.

In terms of reduction, I paid £115k. Mine is a 1980s flat in decent condition. You can get scabby 1960s ones for less than mine, and more recent ones for more. To be honest here the railway doesn't seem to make a massive difference to prices, maybe up to £10k on those sort of amounts.

If there are problems with the place that you've missed, your survey should pick them up. Obviously by this point though you've committed some money so don't want to pull out, but better to waste £1k then proceed with a dud.

As others have said, check selling prices for flats in the same block/road - always the best indicator. I mentally refused to pay more than anyone else had done, despite the last sale being a while before mine.

teapot_3

Well I've just sold my house which is right next to a very busy railway and I would say that the price was definately not affected by it. In fact I got more than I expected and it was on a par with other similar properties that are away from the line. Its never really bothered me as I have double glazing so it really cuts out the noise and as others have mentioned you do get use to it.

Good luck with what you decide to do.

Norbert_Colon

I used to live in a similar sounding flat, the problem was not the train noise, but when they carried out engineering work on the line at night. That was only 5 or 10 nights a year though.

travel_freak

Thanks everyone for the good advice and wishes.

I'll check out nethouseprices.com - I haven't looked at that site before so I'm sure it will be useful.

Regards

JennyW_2

When our house was valued in February, it was £15K less than those nearby because of the train line.

travel_freak

Thanks JennyW, eeek, I really didn't think it would be that much - shows how naive I am....I'll have to mull things over, but I've taken on board everyone else's helpful comments above.

Regards

Jorgan_2

How close are you to a station, that may have some bearing on the asking price. Properties within easy access of stations that serve major towns can command a premium over similar properties further away, even if they do have increased noise levels from trains etc.