Buying a Home? Watch Out For the 9 Factors That Crush Home Values When You Want to Sell.
While it's often desirable to live somewhat close to a good school, supermarket, or public transportation, living too close could cost you when you try to sell your home. If you're in the vicinity of earsplitting noise — think airplanes taking off, firetrucks whizzing by, or the constant rattle of train tracks — it's impossible to avoid. So if you live near a constant barrage of sound, it comes as no surprise that the cacophony could be crushing the value of your home. In fact, living near an airport can lower the value of your house by as much as 13.2%, according to a recent study by Realtor.com.
Realtor.com calculated the price difference between homes within a certain radius of nine major noise factors — including airports, highways, and emergency rooms — and the median price of homes in the rest of that ZIP code. If you live near a source of noise pollution, read on to see how it will affect the price of your home.
Factors Discount Distance Within (Miles)
9. Fire Station 1.8% 0.1
8. Schools 4.3% 0.1
7. 24 HR Supermarket 5.1% 0.1
6. Busy Church 5.2% 0.5
Weekly attendance of 2000 people or more
5. Hospital Emergency Room 7.6% 0.5
4. Busy Roads 9.5% 0.1
3. Highways 11.3% 0.1
2. Railway Tracks 12.3% 0.1
1. Airport 13.2% 2
Source; MSN Money.