It depend on many different aspects on how much being on a main road reduces the value of the Farmington Hills home or any Metro Detroit home. Here are some of the vary degrees of being on a main road.
- Is it a major 4 or 5 lane road? Or is it a smaller 2 or 3 lane road? Is it a freeway?
- Is it a busy road with lots of traffic noise?
- Is the road to the side of the house? Are you the first house in the sub?
- Is the back yard facing the road? People with children don’t like that many times.
- Is the road blocked by shrubbery or a wall. A house with a ”barrier” that blocks the view and gives the security of a solid barrier is best. Homeowners like the security of feeling protected and having a wall or separation from the road.
- Is the front of the house facing the road?
- Is the road a gravel road with lots of dust?
- Is there a hill between the road and the house?
To some people a road doesn’t bother them at all. To others with kids it does. One of the biggest things to remember is that a home on a road will be harder to sell in the future. You have a smaller pool of buyers for Farmington Hills homebecause some people will not even look at a home on a main road. Whether it is a Farmington Hills home or any other Metro Detroit home a road usually does reduce the value.
But should you buy a house on a main road? Sure if you want the house and it fits your needs. The cost reduction because of the road may get you into a home that you could not otherwise afford. It may be the home that meets all of your wants. So don’t let a road stop you from buying the Farmington Hills home.
So now the question is “How much lower should I bid because of the road?” What makes it a good value now? But my opinion a front facing home to a busy road can decrease the value of a home up to 10% from a similar home with similar amenities in a subdivision.
I hope this helps you.
- What else detracts from the value of a Metro Detroit home?
- What adds value to a Metro Detroit home?
- Metro Detroit first time home buyer tips
- Oakland County lake real estate and Oakland County Lake information
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Russ Ravary your metro Detroit real estate agent
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