How do the “rules of the road” apply to real estate? There’s an important tie in to location, which is touted as the top rule in real estate. An article in U.S. News covered many different road scenarios that are known to have an impact on home values. Here are some “road rules” to pay attention to.
Double Yellow Lines
A few years ago I had a client from Newport Beach who mentioned that he wouldn’t look at homes on roads with double yellow lines. He was pointing out that their presence means that a road is busy and considered to be more of a major road, thus a less desirable location. Turns out, a double yellow line does make an impact, and it’s generally not the best first impression.
Traffic Lights
Homes near traffic lights can also suggest higher traffic volume. For some, they can add convenience. For example, if you are trying to make a left out of a street without a light that has a lot of cars zipping down it, you probably won’t have the easiest time getting around. So there is good and bad associated with having a traffic light nearby. Some of the other negative side effects are noise from cars idling and loud music blaring from cars.
The Highway View
Here in Orange County, we use our freeways a lot. On the plus side, living near a freeway can make the home desirable for people who want easy access for commuting. However living beside a freeway (or with one in sight) can be a negative due to the noise, pollution, and unattractive view. I personally lived near a freeway to help cut down on commute time a few years ago and while it was easy to get on and off the freeway, there were definitely some downsides. I had to kiss goodbye the enjoyment of my yard due to the noise and dust. I’ve also noticed that many house hunters won’t even give homes a chance if they are in close proximity to the freeway.
Make A Complete Stop At The Corner
There are pros and cons to the corner lot location. Some people love them because they have fewer neighbors, aren’t as cramped, and might offer space for boats/RV’s/etc. On the flip side, corner lots can be a bit noisier due to traffic. Also, the yards can have an odd configuration and depending on how the home is situated it might not feel like part of the neighborhood.
Cul-de-sacs
These tend to be the most appealing location, which translates into higher values. Why are these streets so coveted? They offer less traffic and they are friendly for kids, pets, block parties, etc. When I previously lived on a cul-de-sac, we would have great block parties on it and it was a great way to promote the sense of community.
By being aware of these “road rules of real estate” you can try not to roadblock your home’s value. While these aren’t hard and fast rules, it is smart to be aware of some of the perceptions that prospective house hunters may have.
By Holly Schwartz
Holly Schwartz is a realtor with Villa Real Estate in Newport Beach who lives in Eastside Costa Mesa. She can be reached at HSchwartz@VillaRealEstate.com.
