freeway flat

[skip]

I'd like to get your thoughts on apartments that are VERY CLOSE to major roads, freeways in particular but are also close to parks and other amenities and are in really nice suburbs. my gut tells me to focus on the suburb moreso than the properties actual positioning provided the price reflects that. In other words I would probably buy a flat in a better position if it was similarly priced to one near a major arterial but if the freeway flat could be purchased 20% cheaper then I would seriously consider it. Investors seem to be offloading these types of properties a lot lately and I don't think they are necessarily bad investments. Maybe they are just not right for them.
I know someone who has done very well from 'gut buying'. Most of his IP's do not fit the standard selection criteria but it hasn't stopped him kicking on.

 

[toony]

I would not buy a freeway flat. Sure these are moving now, but wait till there are less buyers and you will really struggle to make a sale.

Property is a long term game, and I would not really like to have to sell one of those properties if there are alot of properties on the market.

 

[skip]

Hi toony
I doubt I'd want to sell but obviously the rental return is better if you pay less in the first place and if the area has what renters are looking for then wouldn't it make sense to purchase below the areas market value. The good suburb virtually guarantees CG albeit a tad lower than surrounding property doesn't it?

 

[tobe]

Ive thought about this off and on for a while now. With petrol costs rising and congestion etc, and perhaps technology being able to provide a quiet hybrid vehicle, perhaps it is time for very long term investors to buy up big on major roads, as the noise/polution issue will be gone in the next 5 to 10 years?
Having said that, I once did the finance for a house right next to the monash freeway, and Malvern train station. Not only was the noise maddening, but the dust was awful. Not somewhere I would contemplate living myself, and not really at much of a discount to the market to conpensate....