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Even if you purchase it for a lower price, you will be stuck trying to sell it for a lower price, too, so there is no advantage. Plus, it will be more difficult to sell.
Not everything is about resale. The advantage is that you get to live in an area you would not otherwise be able to afford.
I live on a corner and had no problem with the sound of traffic going by, then one busy body neighbor decided that everybody was speeding and somehow got the township to put up stop signs. All it did was make for more noise as people stopped then started up. Fortunately, nobody stops anymore so we're pretty much back to normal.
I guess a pro is that people are less likely to burglarize a home on a busy street.
I don't know for sure, but I would almost think your home would be more likely to be burglarized on a busy street. I guess you could make a case either way, but what pops into my mind is that with more cars coming/going (and usually more people walking around), it would be hard for an average observer to tell who belongs where. Not to mention it would be easier for a burglar to make their hit then get away quickly in any number of directions.
A cousin of mine lives in a subdivision that's sort of weirdly divided -- about a third of it actually faces out on to a very busy street, then pretty much all of the rest of it is set back and very quiet. A couple of summers ago, there was a rash of car burglaries in that area, and primarily all of the people that were hit lived in the area that faced the busy street.
Did this and never again. In previous city: Several concerns, but #5 was the worst-maybe wouldnt be if not a large city.
1. We were on a busy road and across from a school. Kid noise doesnt bother me, but the idiots that went to the school playground in the middle of the night to shoot hoops and drink echoed their noise through our house.
2. the people walking down the busy street in the middle of the night were loud. Their trash had to be picked up daily.
3. Cars with thumping radios that shook our house at all hours were annoying.
4. My kids were not allowed to play in front of the house.
5. Our house was visible to all the public from 3 sides-we were also on an alley, so we were the one that people could see from the front if it looked like no one was home, then they'd walk down the side of the house to see if they saw activity, and they could go down the back alley for a view of the back of the house. Our garage was broken into multiple times.
Our house was a "first stop" for people asking for money, phone use, etc.
More to shovel in winter and we had a lot of snow. More grass to cut.
Realtor told us the location hurt resale greatly.
Now, if you are not talking a big city, many of these will not apply.
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