This episode isn't just about busy roads; it focuses on factors impacting livability and capital growth, particularly location.

Many of my clients avoid busy roads, but some are open to them. It's a subjective decision, but buyers should be aware of the potential drawbacks.

In this episode I run through -

Livability Considerations:

Main Road Factors: Noise, safety, pollution (air and potentially visual), getting in and out of the property, aesthetics, tram lines, speed humps.

Different Levels of Busy Roads: Not all busy roads are the same.

Different Times of Day: Consider how busy the road is at various times.

Google Maps: Use Google Maps to understand the thickness (number of lanes) of the road.

Setback from the Busy Road: Busy road but set back in the block can mitigate some issues.

Public acquisition overlays (potential future road widening).

Proximity (a few houses back): Topography can affect noise; near a freeway, noise can carry far.

Proximity to Amenities/Disruptions:

Next to a pub/shops (noise, traffic).

Near industrial/commercial zoning (noise, traffic, potential odors).

Train line/airport (noise).

Social housing (potential for increased activity).

Transmission power lines (potential health concerns, aesthetics).

Blocks of vacant land/development sites (potential for future disruption).

Other Considerations:

Overcapitalizing: You might overcapitalize by extensively renovating a property on a main road.

Discounted Properties: Bigger blocks with rundown properties on main roads might be discounted (Fairfield example: $1.1m vs. $1.7m).

Growth Zoning and Main Roads: Consider growth zoning and buying near main road projects/developments (potential for future changes).

Buying Near Big Road Projects/Developments: Be aware of potential disruptions during construction and long-term impact.

When Buying a HOME, What's Important?

Ticking Your Own Boxes: Prioritize what's important to you, but consider future capital growth.

Buying at a Discount: You might get a discount on a busy road property, but it could be harder to sell and potentially at a bigger discount in softer markets.

Compromise: Consider buying on a busy road or another compromise (e.g., further from the city).

Key Takeaway:

Sometimes, being on a busy road allows you to get into a suburb you couldn't otherwise afford, or a renovated property, or into a certain school zone. This highlights the trade-offs involved.

Keen to know more? Visit www.thefirsthomeguidebook.com.au