Question:
“My wife and I want to buy a little house as an investment. We found one we both like, but it’s on a busy street. What do you think about buying a home on a busy street?”
Answer:
Two questions come to mind: 1) how does it impact rent, and 2) how does it impact resale value?
RENT:
I’ve found rents to be impacted minimally by being on a busy street. Perhaps 5%.
An added bonus is that a For Rent sign will get lots of exposure. That helps you rent it quicker, which puts more rent in your pocket.
RESALE:
As long as the price you pay reflects the busy street, then it will be a wash when you sell some time down the line.
So my advice: go for it!
