Does traffic noise hurt the value of a home? Should you buy a home on a busy street? Or by an airport? Or under/close to power lines? As with everything in real estate, the answer depends on your situation and how the home fits into your requirements. These usually adverse influences result in”external obsolescence” and they are very likely to be considered to adversely impact value and appeal.
External obsolescence is a factor that reduces the value of an improvement because of something external to the property itself. It’s not about whether the house is outdated or not, but rather something outside of the home that is causing a lower value. It’s usually something that cannot be cured.
That said, what’s common for the area must be considered. In many areas around Atlanta, air traffic is readily apparent. Not only at Atlanta Hartsfield but Dobbins Air Reserve Base, PDK Airport and even Charlie Brown Airport. Thousands of homes are within earshot of traffic noise on any of the major highways around Atlanta – I-20, I-75, I-85, GA 400 and the larger secondary roads. Power lines – Godzilla sized – crisscross the region. Some homes will be influenced by lesser things; and this short video is a perfect example –
Consider if an external influence is objectionable to you, if not then use it to your advantage during negotiation (as we did on the home in the video). However, never lose sight of the fact that when it’s time to sell this is likely to come up so “buy right”. Don’t forget either that an appraiser will comment upon any external issues. What isn’t an issue for you might be an issue for the next owner so plan ahead. We dive a little deeper into this with Home Value and External Influences; it’s a short and worthwhile read.