buying a property train line at the back.

[dagg3r]

Hi guys just got a question. There is a townhouse up for sale in Melbourne's inner cbd however at the back of the property it is very close to the train line. So the noise issues of trains rushing past could be an issue.

Just wondering should i stay clear from this as an investment? or is double glazed windows and soundproofed walls good enough? if i should buy it how much should I take off the market value to justify this.

Cheers

 

[RightValue]

Just beware if you are borrowing heaps and the purchase gets valued by a valuer, the risk rating on this type of location/environment is high and may scare some mortgage insurers.

 

[lolipss]

Hi guys just got a question. There is a townhouse up for sale in Melbourne's inner cbd however at the back of the property it is very close to the train line. So the noise issues of trains rushing past could be an issue.

Just wondering should i stay clear from this as an investment? or is double glazed windows and soundproofed walls good enough? if i should buy it how much should I take off the market value to justify this.

Cheers

no double glazed window or soundproofed wall that can eliminate train noise.

i got a house opposite to train line before and i have installed this double glaze window + another window system from stopnoise, you can still hear the noise a lot. a waste of money for stopnoise product

piece of advice, there is no way you can eliminate a train noise. beware...

 

[porp_e]

Just beware if you are borrowing heaps and the purchase gets valued by a valuer, the risk rating on this type of location/environment is high and may scare some mortgage insurers.

LMI was an issue with the place I got this year that fronts on to a train line, one bank didnt want to touch it so went to thier competitor and they gave the stamp of approval lol.

 

[mattnz]

Also renting it out is likely to be an issue. That is the last place anyone will rent, given a choice unless heavily discounted.

 

[travelbug]

I have a unit in Meadowbank (Sydney) and there is a considerable difference in price and rent for those on the train line and those one street back.

 

[chilliblue]

As stated in the above posts + do not forget if you need to sell at any stage, the selling times are longer and often the discounting is greater.

Why limit your market?

 

[Propertunity]

Just wondering should i stay clear from this as an investment?

Yes

or is double glazed windows and soundproofed walls good enough?

No.....and if it has a balcony overlooking the train tracks, who wants to go out there?

if i should buy it how much should I take off the market value to justify this.

You'd be advised not to buy it but if you are determined, then you'll need comparable sales figures of other such units in similar positions to determine value.

 

[ldriver]

I think you need to consider the suburb first before you start discounting.

If we're talking the city, forget it.

If we're talking Prahran/Hawthorn, it depends how close you are to the train line.

We previously owned a terrace in Hawthorn which was 1 street back from the train line- there was another terrace and suburban street behind, then the station.

The train wasn't a big deal, we could hear the trams more! And the house wasn't discounted for the train at either purchase or sale, given supply issues.

 

[mary&mat]

Hi dagg3r,

Had friends who lived next to a train line. The windows shook when a train went past. I think it was the Frankston/Dandenong line & suburb was round Armadale/Sth Yarra somewhere there. The telly would go all blurry & fuzzy also. I think it was a nice place but they got it at cheap rent b/c of the train.

It was horrible being there with the trains & I would never live nor consider buying after experiencing this.

Hope this helps,

Regards,
M&M

 

[ironpaw]

We looked at a place in cheltenham with a backyard which is right up against a train line. I mean like 5-10m away from the train line.

A few trains went past as we were inspecting the place. The noise wasn't too bad inside the house but it was bad outside. I was more worried about resale value - the vendor had the place on the market since March this year, he's chasing $650k (which is pretty cheap for the beach side of Nepean Hwy considering its a 700Sqm block) and he's STILL not having any luck.

 

[kathryn d]

When I met Rob he had a house close to Laverton Station,Victoria. At first I thought I'd never get used to it. A week later I never heard it..unless I really listened for it.

Just make sure the purchase price and rent reflect this.
Many tenants may think of it as an advantage..I would.
Market the advantages..

 

[ironpaw]

When I met Rob he had a house close to Laverton Station,Victoria. At first I thought I'd never get used to it. A week later I never heard it..unless I really listened for it.

Just make sure the purchase price and rent reflect this.
Many tenants may think of it as an advantage..I would.
Market the advantages..

The only advantage there is is IF you are close to the station. I really can't think of any others....

 

[chilliblue]

The only advantage there is is IF you are close to the station. I really can't think of any others....

Not to mention some of the lovely "people" that use the station.

 

[kathryn d]

A few advantages of living close to train station.
1. no need to buy a car
2. not as far to walk home
3.landlord may not worry too much if your dog barks
4.can sleep a bit later before going to work
5.inform potential roommates of these advantages

 

[Rixter]

You will find that properties for sale adjacent to train lines have a lower asking price. They are priced lower for a reason.

 

[Aaron Sice]

You will find that properties for sale adjacent to train lines have a lower asking price. They are priced lower for a reason.

i believe it was you who told me that real estate agents rarely get an application from a prospective tenant asking to be on a main road or backing onto a train line...

 

[kathryn d]

Thought of another....lower rent for a deaf person

 

[forumite]

I will not consider buying so close to the train line.

forumite

 

[melbmeg]

I think it depends on how noisy it actually is.

We live opposite a train line, but it's sunken. That and the fact that it's only one train line means it isn't that noisy. The only time i notice the train noise is early morning when they start (and I usually sleep through it). During the day, you don't hear it at all. I checked that out before I bought the place. The noise from the neighbours' kids in the pool at the back of our place is much more annoying.

For us, the convenience of being 400m from a station (and only having to have one car) outweighs the negatives.

That's not to say it isn't factored into the price. I'd say this place was at least 10% cheaper than it would have been if it had been a street back. But that doesn't make it a bad investment, necessarily.