Railway track in backyard....well not quite :)

[Jamie M]

Hi guys,

I'm interested in an IP that is in very close proximity to a train track.
It's a huge block (1000m2+) with a train track at the rear of the block (so there's a bit of distance - but not much).

The track links Logan to Brisbane so I'd imagine it recieves quite a bit of traffic. Apparently it's not too loud - according to the trusty REA who's selling it

My rationale side is telling me to stay away but the price seems reasonable and the size of the block is appealing.

Can anyone comment on the effects of having this type of infastructure in close proximity to an IP?

I understand that it may not be the most desirable place to rent (because of the potential noise) and for that reason may not be the easiest place to sell.

Cheers

Jamie

 

[chase]

have a chat to a real estate agent in the area, they have formulas for houses near highways, overhead power lines and railway lines. Just ask the question.

i was once told by a REA a house in a quiete street in a desirable area, that had power lines running across the backyard, was valued similarly to a house sitting on a highway, find out what railway lines would do. But obviously its not desirable, and to be honest i wouldnt live in one, only because its backing an area where people would graffiti, and security may be an issue.

 

[susan_10]

Had some experience living close to a train track in Lidcombe in 1995. My friend bought the place brand new and very reasonably priced (i.e.cheap). It is not a very busy track back then but when the train passess at 2 am or 4 am you will definitely wake up from the noise and vibration. So never again, I won't even look at IP on the main road due to noise and privacy issues.

I agree with Chase, not a desirable area to live in. If you are into farming and will not live on site its's OK.

 

[wobbycarly]

Had some experience living close to a train track in Lidcombe in 1995. My friend bought the place brand new and very reasonably priced (i.e.cheap). It is not a very busy track back then but when the train passess at 2 am or 4 am you will definitely wake up from the noise and vibration. So never again, I won't even look at IP on the main road due to noise and privacy issues.

I agree with Chase, not a desirable area to live in. If you are into farming and will not live on site its's OK.

Interesting, as I've heard the other side of this. That one can actually get used to the train to the point where one doesn't hear it.

Agree, though, that the appeal would be depressed because of the proximity.

 

[tobe]

I reckon train lines are better than main roads, and certainly freeways. If the price is discounted, I'd certainly consider it, especially if it was a local line that stopped at night, rather than a frieght line, that might be noisier and go all through the night. It would need to a be a long term investment, its hard to sell this kind of property quickly.

 

[pieman]

in my experience 15%-20%. Having lived in 2 houses next to the train, its true you do not notice it, however the train lines i lived next to never had a diesel and stopped at 12.30 and started at 0500. If it has...well I believe the noise of those things can shake your fillings out.

 

[susan_10]

Interesting, as I've heard the other side of this. That one can actually get used to the train to the point where one doesn't hear it.

Agree, though, that the appeal would be depressed because of the proximity.

I still work in an office next to the train track for years now but still get distracted by the noise and vibration. And no, I didn't get used to it, I am a very light sleeper and prefers the quiet and serene.

 

[Jamie M]

Thanks for the responses guys.

I called the REA to ask a couple more questions to find out that an offer had been accepted during the day..oh well, time to be more decisive!

Cheers

Jamie

 

[dupli]

For what its worth, I lived directly opposite a suburban train station. When we first moved in it sounded so noisy, but after a few weeks I no longer heard anything at all.

 

[HandyAndy888]

See how you're asking the question right now? So will all potential buyers when it comes time to sell...

Values are always significantly lower...it also depends on the track. Is it a busy one, or is it a train once in a while (there are plenty of those along that route)?

 

[pieman]

Yep spot on handy you buy low and sell low, however I purchased a large block in bayside melbourne hard up against a train line and on sold to a developer on a 2 yr settlement at 45% over bank val, (see old threads) so do not discount all property.
Large blocks are hard to get hold of and can command a greater price with DA's etc and generally open themselves up to add values.
All large blocks in good postcodes are worth considering imho.

 

[JCat]

Interesting, as I've heard the other side of this. That one can actually get used to the train to the point where one doesn't hear it.

Agree, though, that the appeal would be depressed because of the proximity.

I too used to live opposite a freight train line and got very used to it to the point of not noticing it after a while.

 

[james_w]

See how you're asking the question right now? So will all potential buyers when it comes time to sell...

Values are always significantly lower...it also depends on the track. Is it a busy one, or is it a train once in a while (there are plenty of those along that route)?

Not always bought a house with train line pretty close and the block next door both under market. CBA valuer valued the blocks across the road around the same amount ours was valued for. Also sold both and made a nice profit

 

[HandyAndy888]

Not always bought a house with train line pretty close and the block next door both under market. CBA valuer valued the blocks across the road around the same amount ours was valued for. Also sold both and made a nice profit

Well done!!! Profit can still be made....I suppose the question is, how hard was it to sell???