House by rail line

ognum

The real question is if you will be able to sell on in the future, you may find it difficult until the line is in, many people like you will be worried about it.

If you think the reason you got it for the price is because of the railway then providing you are prepared to sell cheap when you do move then you will be OK.

Fire_Fox

Hello123 wrote: »

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!

IMO check a wider area and contact the surveyor to ask. Dotting the i's and crossing the t's but that should help you decide.

Hello123_2

Fire_Fox wrote: »

IMO check a wider area and contact the surveyor to ask. Dotting the i's and crossing the t's but that should help you decide.

It's a rural area with not many houses thanks

Hello123_2

ognum wrote: »

The real question is if you will be able to sell on in the future, you may find it difficult until the line is in, many people like you will be worried about it.

If you think the reason you got it for the price is because of the railway then providing you are prepared to sell cheap when you do move then you will be OK.

i 100% think it's cheap now because of the hs2 (not the bull*** story the EA fed us).

The house is empty.

Im worried about what the line will look and sound like - is 90m close?? Im worried we wont be able to sell in the future too - would you MSE's buy a house knowing the hs2 may run alongside it??

zzzLazyDaisy

If you are thinking of going ahead with the purchase:

Definitely go back to the surveyor and ask if s/he took the effect of the new railway and the disruption during construction into account when valuing the property. If you have documents/links about the railway send them to the surveyor and ask him if this changes the valuation.

If you are in any doubt, do not rely on the lender's valuer, but instruct your own independent surveyor and specifically ask him to take these issues into consideration when valuing the property.

Yes this will delay exchange, but better that, than you lose shedloads of money and end up with an unsaleable property (not saying that will happen, but that is the risk you take)

laurel7172

How close to HS2 was the recently sold property?

Had HS2 been announced in 2009?

Because if a comparable property was sold recently for £250k (or in 2009 for £300k) and it wasn't within 100m of HS2, then you really haven't got that much of a discount, have you? That the sellers originally tested the market at a ridiculous price is neither here nor there, really.

I'd want to be really sure the price reflected the true value...have you checked the surveyor/valuer knows about HS2?

zzzLazyDaisy

Hello123 wrote: »

Im worried about what the line will look and sound like - is 90m close?? Im worried we wont be able to sell in the future too - would you MSE's buy a house knowing the hs2 may run alongside it??

Well, my last house the back garden was 300 feet long - roughly the same distance you are talking about. I definitely would not have wanted a train line on stilts running along the bottom of my garden. No way. I wouldn't touch it with a barge pole!

scottishblondie

Hello123 wrote: »

i 100% think it's cheap now because of the hs2 (not the bull*** story the EA fed us).

The house is empty.

Im worried about what the line will look and sound like - is 90m close?? Im worried we wont be able to sell in the future too - would you MSE's buy a house knowing the hs2 may run alongside it??

90m is really not a large distance! I would not purchase a house with a rail line that close.

ElkyElky

I'd personally avoid buying a house in close proximity to a railway, whether on stilts or otherwise. Hell, I wouldn't even buy a house where I could hear a train whilst standing in the garden.

MX5huggy

HS lines are totally different proposition to standard line (maybe worse or better) the trains will be going fast so the time that the noise is there will be shorter, the noise could be louder for that time. You won't have long heavy freight trains than seem to take 10 to plod past at 3 in the morning.

Go and spend some time near the HS1 line. Also do reasearch on that's impact on house prices, but make sure you are not near stations as that probably increases prices.

In the end I would not take the risk untill the price was say £150k.