Should I Buy a Low Price House In Toronto On Busy Streets ?
Wednesday Jan 01st, 2020Share
Purchasing a new house can be a tough situation. Although this is generally an exciting time for homeowners, so many factors and variables come into play when you choose to purchase a home. In addition to your budget and family size, other factors such as your employment circumstance and living region will also play contributing factors to the choice you make when buying a home. For a big city that is busy like Toronto, these factors are even stronger influences. Another factor that comes into play is the home buyer's willingness to trade-off.
If someone who is looking to purchase property can find their dream house but is willing to sacrifice their dream location, this may save them a substantial amount of money. In Toronto, one house that sits on a busy street is on the market for $2.2 million. Less than 300 meters away, a lower-scaled home is on the market at $2.9 million. The house priced higher is located in a more prestigious area, while the lower-priced house sits on a busy street, which receives a lot of daily traffic. Some people do not mind living on a busy street if it saves them a half-million dollars. However, there are several factors to take note of for those potential homeowners thinking about making that decision.
Noise is probably the top of the list when a homeowner on a busy street has to deal. Occurrences such as the city bus making stops every 30 minutes and rush-hour traffic are pretty much unavoidable if you live on a busy street. Some people welcome the daily noises of a bustling city. However, some may not realize the scope of this until they have already purchased their house. Parking is also a part of this. Generally, homes located on busy streets have parking spaces in front of them. A homeowner may not feel comfortable with strangers parking in front of their house for unknown periods throughout the day. Some do not mind if they are saving enough money on the home purchase, but it is something worth noting.
Safety is also a major contributing factor. For a family purchasing a house on a busy street, there are increased anxieties and risks concerning young children being able to play freely in their front yard. Having a busy street with constant traffic just meters away from your front door isn’t something most parents would feel comfortable with; in regards to letting their children play outside. Children can still be children in these types of environments, but this is a factor that may raise concern for homebuyers who have younger children. Sometimes, getting a child into a better school district is the reason for the move. So if that places a family on a busy street, then it may be a trade-off they are willing to commit. Purchasing a house on a busy street in Toronto can save the buyer a lot of money. However, doing so comes with several trade-offs that the purchaser must be comfortable with.