House by rail line

MX5huggy

Just pull out, it's not worth the not knowing what is going it happen.

JQ.

Hello123 wrote: »

What rights do people have buying in an area that will be heavily affected by the proposed HS 2 rail line?

I would imagine none - you are buying with the knowledge it's going to be built, therefore any discount/compensation should be reflected in the price you are paying now.

If you're not getting the house at a huge discount, I'd be walking away. Personally I'd imagine having a construction site close by for several years would be far worse than the eventual rail link.

thatsean

None when you are choosing to be affected.

zzzLazyDaisy

I would pull out.

It might be that once the railway is up and running, with good fencing and sound proofing the railway might not be too much of a disruption (but you don't know that, and neither will any future buyers).

Of much more concern is the construction works that are going to be going on for years, with all the noise, dust, and machinery that this involves, to say nothing of the eyesore. It will put future buyers off, and drastically reduce the value of your house (a friend had a similar experience with a new housing development that went up on a field at the bottom of his garden - his house was on the market, but he had to take it off during the construction period because viewers just were not interested, even though it was very competitively priced).

It is very doubtful that you will have protection - many years ago, in the 80's I bought a small mid-terrace house on a side street. Unbeknownst to me, there were plans for a HUGE dual carriageway running across the end of the street. My neighbours had double glazing installed free because of the traffic noise. I didn't because the plans were already well underway when I bought the house.... shame my solicitor didn't tell me about it!

You need to speak to your solicitor, but if there is any chance you might want to move in the next 20 years or so..... don't do it!

pinkshoes

I lived 100m from a railway for 10 years, and although it drove me nuts dor a couple of months, after that I didn't hear them - even the big screachy tankers!

If this is a perfect house for life, then I'd probably go for it, providing the price reflected the railway. If you're looking at a shorter term house, then pull out, as you will probably struggle to sell.

Hello123_2

Thanks everyone for advice! Our solicitor has informesd us of the plans and said we have to make the decision.

She said that Hs2 will be around 90 metres from the house - I think that's seriously close?

Have had a look on above maps and it's going to go on stilts in the fields at the side of the house. Looks close on map but hard to imagine because of the scale if that makes sense?

The house was on the market for £380k pre hs2 plans/pre market crash - it was on for £250 and we got for £232.

We are due to exchange this Friday but im really worried now. Also surprised lender will actually give us a mortgage if it's such a risk?

Trains don't really bother us (have lived by a track before) but my fear of hs2 is it's the unknown - we don't really know what it will look like/sound like etc. The stilts sound abit :-s

Fire_Fox

How does £230K compare to sold prices locally and recently, not asking prices pre crash? Have you checked your valuation surveyor is aware of the proximity of the rail link?

Hello123_2

Fire_Fox wrote: »

How does £230K compare to sold prices locally and recently, not asking prices pre crash? Have you checked your valuation surveyor is aware of the proximity of the rail link?

Only 2 houses have sold in the area since 2009!

Both are comparable to 'our' house - one for £300k in 2009 and one in april this year for £250k.

The lender did a valuation and sent us a report basically saying it was worth what we're paying - no mention of hs2!

olly300

As someone who lived in a house with a railway line at the bottom of the garden I wouldn't buy a house with one being constructed.

The reason being is that while you can use to a railway line once it's up and running, any construction or repairs are damn noisy.

When the line was closed down once for 4 days over Christmas the noise of grinding metal was painful.

anotherginger

I guess it depends on how much you like the house. It has probably become more affordable for you because of the potential new railway line.

If everything adds up for the bank (income, deposit, credit checks etc.) I don't see how it's a risk for them. It's a risk for you in that if the property decreases in value then you will need to make up the shortfall if you want to sell.