Real Estate

Are you feeling a bit unsure about what’s really happening with mortgage
rates? That might be because you’ve heard someone say they’re coming down.
But then you read somewhere else that they’re up again. And that may leave
you scratching your head and wondering what’s true.

If you’re starting this year house-hunting for your ideal property, you might have heard about the “location, location, location” mantra that’s prominent in real estate. Here we’ve listed five locations that might make you think twice before living near them. 

And if you ever find a house you love that’s located near or next to these landmarks, it’s critical to know which could be a deal-breaker for you, and which could suit your needs and lifestyle so you can enjoy your dream home with no regrets.

 

Airport and flight path

Biggest pro: Ease of travelProbably the biggest advantage and appeal of buying a house near an airport is ease of travel, especially if you’re a frequent flier or traveler. No more frantic racing against the clock since you can reach your terminal within minutes, saving you time and money. Biggest con: NoiseThe occasional booming sound of planes landing and taking off can be a huge nuisance, especially if the home is located directly under a flight path. However, many airports near residential neighborhoods have noise and flight time restrictions in place that make living near them more manageable.Pro tip: Do your research when it comes to the neighborhoods where planes fly over most. You may also be able to look up maps showing general flight paths surrounding the nearest airport. During your house hunt, spend some time on the street near your potential property to see if noise would be a bother to you. Also, don’t forget to inquire about specific noise reduction features that are integrated into the home.

Busy street or main road

Biggest pro: AccessibilityYou have easy access to mass transit, such as buses and trains, and even freeways. Living next to a main road also means you’re within walking distance to grocery stores, restaurants, retail outlets, and shopping centers, so getting what you need will be a breeze. You may also be closer to fire and police stations, which could be critical in an emergency.Biggest con: Safety risksAside from the noise from honking cars and chatting passersby, busy roads can bring all kinds of hazards, especially speeding cars. If you’re a buyer with kids and/or pets, their safety is a big priority, which means homes in these areas might be a no-go.Pro tip: If you’ve fallen in love with a property that’s on or near a busy road and you want to live in proximity to stores and conveniences, the best thing to do is to visit at different times of the day to get a realistic feel for the noise situation.

Park or any public open space

Biggest pro: Improved physical and emotional well-beingLiving on a property next to or very close to a public park or any open space makes it easy for you to start or maintain an active and healthy lifestyle. Whether you like to go biking, running, or just taking your dog for a walk, spending time outside is more convenient since you don’t have to travel far. And even if you’re not an outdoorsy person, just living next to green spaces can be good for your mental well-being and happiness.Biggest con: Noise and increased trafficAs with any neighborhood feature, a park may not be for everyone. You may have to deal with the noise, whether from children playing games or people chatting and catching up. Some parks are also used to hold concerts, festivals, or other social events, so it will certainly be noisy and busy. The streets may also see increased traffic and cars parked from both sides of the road.Pro tip: If you’re allured by the prospect of living next to a park, make sure you know what the park is like at different times of the week and during the day or night. If you have the chance, chat up a potential future neighbor or two and ask what it’s like to live in the area.

Casino

Biggest pro: Plenty of entertainment offeringsCasinos aren’t all about gambling. These modern resorts often include everything, from spas, restaurants, sports bars, concert halls — even family attractions such as arcades and bowling alleys. If you’re considering buying a home into a smaller area without a lot to do, these local entertainment choices right at your doorstep can be a huge win for you. Biggest con: Think crowds, traffic, and bright lights 24/7Since casinos are open 24 hours a day, seven days a week, this means you will have to deal with constant traffic and crowds probably all the time. Also, many casinos are brilliantly lit up. If the house you’ve been eyeing for directly faces the casino, you’ll have to take preventive measures to keep the lights out.Pro tip: Should you gamble on a property near a casino? It depends on why you are buying the property and whether or not it suits your lifestyle. Experts suggest staying at a nearby Airbnb or at the casino hotel for a period of time, especially during a convention, any major event, or tourist season. Additionally, walk around the neighborhood and take note of the noise levels at different times of the day.

Power line

Biggest pro: Fewer and shorter power disruptionsLiving near electrical infrastructure makes it easier for repair crews to respond promptly when outages occur. Their fast response also helps restore power sooner, limiting disruptions. This is especially crucial if the power loss is due to extreme weather conditions and if you work from home.Biggest con: Potential health and safety risksOne of the biggest concerns home buyers have when purchasing property near power lines is its potential health implications. Power lines produce electromagnetic fields (EMFs), a form of radiation that some have suspected could increase cancer risk with significant exposure over time. Moreover, extreme weather like high winds and thunderstorms can compromise lines, creating fire and electrocution hazards.Pro tip: Worried about the health concerns surrounding EMF and power lines? Start with your own research and see if the property under consideration is within safe exposure levels.

 

Bottom lineLike everything else in life—or like every location in this matter—there will always be advantages and a flip side. Aside from doing tons of research, leverage local expertise by contacting a real estate agent. With their help, you can easily balance out the pros and cons and make the right call on whether or not it will be worth it to purchase a property in any of these particular locations.

In today’s housing market, you can still come out on top if you have the
right team and plan.

* To win when buying a home, you need to build your team, make
strategic plays, consider what’s in and out of bounds, and stand out
from the crowd.

* Let’s connect today to make your winning move.

The real estate market is always changing, and slow markets can be tricky.
Here’s a brief guide on what to know about a slow real estate market.

Are you on the fence about selling your house? While affordability is
improving this year, it’s still tight. And that may be on your mind. But
understanding your home equity could be the key to making your decision
easier. An article from Bankrate explains:

Solar panels are a great investment, but many homeowners are unfamiliar
with the process. Discover what to know about solar panel installation.

On the road to becoming a homeowner? If so, you may have heard the term
pre-approval get tossed around. Let’s break down what it is and why it’s
important if you’re looking to buy a home in 2024.

Have you been thinking about selling your house? If so, here’s some good
news. While the housing market isn’t as frenzied as it was during the
‘unicorn’ years when houses were selling quicker than ever, they’re still
selling faster than normal.

Finding the right home is one of the biggest challenges for potential
buyers today. Right now, the supply of homes for sale is still low. But
there is a bright spot. Newly built homes make up a larger percent of the
total homes available for sale than normal. That’s why, if you’re craving
more options, it makes sense to see if a newly built home is right for you.

Headlines saying foreclosures are rising might make you feel uneasy. But
the truth is, there’s no need to worry.

* If you look at the latest numbers, they’re still below pre-pandemic
norms and way below what happened during the crash.

* If you’re worried about a flood of foreclosures, the data shows a
foreclosure crisis is not where the market is today and is not where
it’s headed.