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Has anybody ever had to sell a house that happened to be right beside a construction site? Let me paint the picture for you. Our house is the last house at the end of a dead end road. There was a wooded lot next to us in which a family had owned. A couple years ago, the family must've sold the land to a development company. This year, the development company cleared off that wooded lot, and the lot next to it as well. They have been grading the two lots for several months now.
Anyway, the lot that is being graded next to us will have a luxury apartment complex built on it. Not quite sure when the building is supposed to take place, as it looks like the grading might take another year to complete. Now, we have a small buffer of a wooded area between us and the land being developed, and the dead end road is going to remain a dead end road. There will also be a six foot fence put up on the land where the apartment complex is to be built. However, there's ongoing noise from the construction site and probably will be for another couple years until the complex is built.
So, we just put our house up on the market last week. Mostly everyone who has seen the home loves the house, but doesn't like the construction site next door. My in-laws live back behind us, and the construction is a lot closer to their house. They have had their house on the market for nearly six months now, but their house is in a totally different price range as ours (ours is much lower.)
It's only been up on the market for a week, and while the house itself gets high reviews, the construction site is definitely scaring people away. We've setup a blue print of what's being built and the approximate location as to where the buildings will sit. We've explained that the dead end road is to remain a dead end, and that there will be a fence surrounding the perimeter of the complex site. We have all of this info available for when the house is being shown so that the potential buyers are well informed. One buyer has stated that they are very interested in the house, but we haven't heard back from them yet.
Just wondering if anybody has ever had to sell a house next to a construction site like that? Did it take forever to sell the house? Did you eventually give up on selling it? Did you have to ride it out until that building was built? I do think once the complex has been completed, people will realize it's not going to be bad where it's out. I think, actually, there will be enough trees and the fence to block the site of the complex, plus the complex is going to sit on a bit of a hill, so the house should still enjoy the luxuries of being the last house on the road. I'm just worried we might be in a for long haul of getting it sold and while it doesn't necessarily need to sell within this month, we do need to have it sold as soon as we can.
Has anybody ever had to sell a house that happened to be right beside a construction site?
Anyway, the lot that is being graded next to us will have a luxury apartment complex built on it.
So, we just put our house up on the market last week.
Are you FORCED to sell at this time?
I'd have to suggest waiting until AFTER the question marks can all disappear:
after the work is complete and any fencing or greenery work is installed and a buyer can KNOW.
I'll also suggest you get a real appraisal done at that time too.
I'd have to suggest waiting until AFTER the question marks can all disappear:
after the work is complete and any fencing or greenery work is installed and a buyer can KNOW.
I'll also suggest you get a real appraisal done at that time too.
No, we're not forced to sell. We could keep struggling along for as long as it takes (we'd have to), but selling the house would allow us to downsize, pay off all debt, and reset our finances. We never meant to stay in this house for the long haul, and felt it was time to do this while our son is still young. The house is already on the market and has had some visitors. Our neighborhood is normally a very sought after neighborhood to live in. It's just that this construction just kind of sprung up out of nowhere, and we're having to deal with it.
I'd be more concerned about what was being constructed. Personally, if I was looking for a neighborhood feel and individual houses I wouldn't be looking for an apartment building beside my house in the near future.
You could sell it for a very reduced price to compensate for the temporary noise, or wait. If you want the best price, you're better to wait. The noise, and unsightliness of the construction project will be a problem.
I'd be more concerned about what was being constructed. Personally, if I was looking for a neighborhood feel and individual houses I wouldn't be looking for an apartment building beside my house in the near future.
The apartment building won't be exactly beside of our house. It's kind of difficult to explain, because you'd really need to see it in person to get a better feel, but according to the blue print, the actual building next to us would be built on the opposite corner of the lot that is being cleared, not right beside of our lot. There would look to be some sort of buffer, like a grassy, landscaped lawn, and there would be a fence up as well. I understand what you're saying, I would have the same caution as well, but this is one reason why we got the blue print and have it displayed when we have showings at our house. It shows, exactly, where the building next to us is going to be built.
You could sell it for a very reduced price to compensate for the temporary noise, or wait. If you want the best price, you're better to wait. The noise, and unsightliness of the construction project will be a problem.
Selling it for a very reduced price for a temporary nuisance doesn't seem wise to me. We would probably stay and wait it out before we would do it.
There would look to be some sort of buffer, like a grassy, landscaped lawn,
and there would be a fence up as well.
...where the building next to us is going to be built.
But plans change and these are all future tense and hopeful at that.
Until that fence is up and you KNOW what's on the other side...
you could end up with the dumpsters and the maintenance shed right there;
or the swimming pool and 24hour filtering equipment.
At the other end... you might find that your property now suits well for light commercial use.
Some sort of professional office... Accountant or a Vet or Dentist... etc.
what is the average days on market in your area for your price point? I don't think it's a good idea to leave it on the market indefinitely as construction proceeds, so if it hasn't sold within a reasonable amount of time based on local market conditions, I'd suck it up and take it off the market until the construction is done or at least a lot further along and they aren't doing to the loud disruptive stuff. Once they are doing interior work, it should be less of an issue.
Is it a mixed neighborhood already, meaning detached homes and apartments are commonly near each other? If so, I wouldn't reduce unless necessary. But if an apartment complex is out of the ordinary for the area, you're going to have a hard time selling. I wouldn't buy a home that is in a mostly residential area that is that close to the only apartment complex.
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