There aren’t many people who ask their REALTOR® to find them a house that backs up to railroad tracks or sits under a flight path. Buyers tend not to be attracted to homes on busy streets or next to a large business developments. That’s where the laws of supply and demand can work in your favor.
When lots of people don’t want something, the price is cheaper. So if you want to get in a neighborhood that’s a stretch for your budget, you might consider homes with a so-called undesirable quality. That could also help you afford a larger or nicer home than you would otherwise find in your price range.
You might even decide that some of these perceived drawbacks are actually benefits. For example, the noise and activity of a busy elementary school across the street will turn off many buyers, but consider how convenient the playground-and the school itself-would be for your young kids. Airplane noises go hand in hand with quick trips to the airport. A busy street may help you get where you want to go faster, too.
If you want to explore properties that are more affordable due to factors that turn off some buyers, talk with your REALTOR® about your options.