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Buying a home near busway and train track

Hi,
We are planning on buying this townhouse - http://www.zillow.com/homedetails/21-Hemingway-St-Pittsburgh-PA-15213/11403299_zpid/
It is very cute little place and has everything new and updated like how we wanted it to be. It is in a small community which is again good. But from the kitchen window or from the terrace we can see the busway. When you are inside the house and if freight train goes by you can hear it. Will this affect the resale value down the line say after 3 years?

Please advice!!

Thanks
Simmy.
  • April 09 2012 - Bloomfield
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Answers (4)

This advice comes from Chicago, where the number of feet from the train (Metra or El makes a difference as does speed) or bus (and how fast they are going when they pass your house) directly affects resale value. And is a top reason many homes sit on the market for longer than expected.

The main issue here is only resale value, which will probably increase/decrease proportionally compared with the rest of your area. The problem is the wait time to sell. Only a very limited number of buyers want to be close to loud roads or trains. And a 3 times a day train versus a frequent train will make a huge difference, as will noticeable sound in your house, windows closed, when buses go by.
  • April 12 2012
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This is a great question. I believe it depends on the area. If the whole area has homes only near the railroad tracks or busway, then this home is equal to the comparables.
In the neighborhood for which I work in, there is a train, and those homes with train tracks running across the back or the frontage, sell for less money. Percentage can be as much as -20%.
The homes that one can only "hear" the train, do not have a lower value- as the saying goes...Seeing is believing!
Naomi Streicher
  • April 09 2012
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Everything is relative.
If you are getting a good price for the home, then when you sell you'll most probably have to give a "good price" then. Watch out for glitzy kitchens that shine so brightly that you forget about the value of location. I lived near a train and had no problem because I bought the home for a low price and sold it for a low price given the market conditions at the time in my town.
  • April 09 2012
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Profile picture for BlairCohen

As I am respounding to your inquiry I am sitting on the front porch of my son's home a 1/2 block form the East Busway and railroad tracks in Edgewood.  When you look down the street you can see the busway.  From the inside of the home you can hear (although not real loud) the trains when they go by.

I have sold homes next to and accross from the busway and railroad tracks.  To some it is a negative while others comment on the charm of it.  If someone doesn't like it they won't buy it and if someone doesn't mind or if they find it "charming" they will consider the home.  Being right next to or accross the street from the busway and railriod tracks can reduce size of the Buyer pool and the demand for the property and you will more then likely sell for less then a home a 1/2 block, a block or two blocks away.  BUT you should be paying less for the home then a comparable one further away.  So if you like it and find the location "charming" then enjoy.  Also, consider $4.00 or $5.00 a gallon gasoline and the converience that is afforded by the busway.  This could make it a more desirable in the future.

Good luck,
Blair

  • April 09 2012
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