Frequently, things that seem like common sense are actually incorrect. Today we will briefly discuss the incorrect assumption that living on a main street (Laurel Canyon comes to mind) is a bad idea. To be sure, there are down sides: (1) traffic, (2) noise at all hours, (3) a very frustrating time getting into and out of your driveway, etc. However, there are certainly benefits to owning a home on a major street as well.
As you would imagine, major streets tend to have access to most buses; this makes it particularly easy to get to and from major attractions. Even if public transportation isn’t your jam, being on a main street undoubtedly means you have quicker access to the freeways. These proximity bonuses don’t end with public transit and freeways, most shopping centers and points of interest are located on main streets, meaning you’re likely walking distance from something entertaining. More importantly, chances are you will be able to purchase a property on a main street at a significantly reduced price (yes that also applies when you try and sell it later); the discount can run at upwards of 20% of what a similar house on a quiet street would cost.
Of course, it’s not all sunshine and rainbows. A home on a busy street will undoubtedly result in a consistently high decibel level in your household, which can get old quickly. To offset this potential calamity, most experts recommend that you visit your potential future home at various times during the day and night to get a feel for what kind of volume you can expect.
Moreover, if you are hoping to start, or raise, a family, then busy streets can represent a safety hazard as well. Finally, as we mentioned previously, the discounted price of a home on a busy street cuts both ways. Sure, your house will appreciate in value, but it won’t appreciate as much as homes on quiet streets.
Ultimately, a home on a busy street comes with plenty of negatives, but the positives can make up for it if you have the proper mentality.
At the Chernov Team we understand that knowledge is power and knowledge of common housing misconceptions is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.