“Very rarely do bidding wars erupt over houses that back up to the interstate….”
In other words….beware the bad lot.
If a house backs to a roadway or power lines (or strip mall or railroad track or BMP….) be VERY careful about building your house there. Typically, the builder or developer has not discounted the lot enough to account for the negative impact on the final value. Another thing to keep in mind is that the lot that backs up to that little country road now may be backing up to the new 4 lane 50 mile per hour turnpike in 10-15 years.
Use your common sense and see what the road connects. Odds are, it is going to get busier.
Other Articles on New Home Values
- Examining the Dollar Per Foot Metric
- Beware the 'Unique and Expensive'
- What Does the Lot Offer?
- The Popular Plans
- What Does it Cost to Build a Home?
- Hardwood Floors
- Aging in Place
- HOA/POA or Civic Association? Does it Matter?
- Builder Warranties - Mandatory or Elective?
- Track Versus Custom Builders
- Which Comes First? The Purchase or the Sale?
- What Does 'Stick Built' Mean and Why Does it Matter?
- EarthCraft Homes and Appraisals...Friends or Foes?
- Lot Pricing in the Metro
- Grey Oaks and Nuckols Road
- Look at Models
- Investments versus Expenses