Homebuyers may not find out about noisy neighbors until it’s too late, usually after they’ve moved into the new home. However, there are other more obvious noise makers that could potentially decrease a home’s value, even though they may also provide “positive” upsides, according to a new report by the online listing site Realtor.com.
As a disclaimer, Realtor.com can’t say with 100 percent certainty that these noise makers were the only reason for home discounts, but they certainly contributed. For example, a busy neighborhood with a school or even a church may also have an issue with parking or potentially privacy. And, Realtor’s blog post is quick to point out that many of these troublesome noise makers come with some pointed upsides as well.
The biggest offender on the list, literally, is an airport. Living within two miles of an airport could result in a home discount as high as 13.2 percent. There is the constant traffic to and from the terminal, as well as the air traffic above — not to mention the roar of the turbine engines at 4am. But, the obvious upside to this is not having to leave your home four hours early to catch a flight.
Unsurprisingly, living within just 0.1 miles of railway tracks could result in a 12.3 discount. Travel by train is certainly more cost-effective than by plane, but the “choo-chooing” of a passing train at all hours of the day and night could dampen your home’s ambiance.
Similarly, highways can add up a hefty home discount. Despite their convenience for commuting and day-to-day travel, living within a mere 0.1 mile of a major highway could lower your home’s value by 11.3 percent. While living within the same distance of a busy road could result in a 9.5 percent discount.
In the case of an emergency, being close to a hospital is not only a good thing, but could save a life. Still, when it comes to your home’s value, living within half a mile of a hospital could cause a discount as high as 7.6 percent.
“Busy” churches, 24-hour supermarkets, and schools can also be detrimental to your home’s value, and potentially offer little in the way of an upside depending on your lifestyle.
Fire stations were the least damaging on the list — resulting in a potential 1.8 percent discount when living within 0.1 miles of one. However, saving your home from a fire is a huge upside, and, to be fair, fire stations have limited times during which they are noisy. Still, fires do break out in the middle of the night on a Wednesday when you have to be up early for work in the morning.
Click here to read the full report.