Location, location, location is the somewhat overused maxim applied by many as a rule of thumb when selecting a property. However, a closer look reveals that a compromise in this principle can produce significant benefits for property purchasers in the East & North London area.
Clearly, most purchasers’ idea of a dream home is one in perfect condition, with a beautiful garden, massive sunny accommodation, off street parking, and found in the best street in the area – preferably a quiet, leafy, cul-de-sac. And of course, it must be cheap!
Sadly this idyllic combination does not exist, because if the first seven criteria are satisfied, then the price is likely to be astronomical! So budgetary constraints typically force buyers to accept a degree of compromise. For many, this will mean asking the children to share a bedroom, making do with a patio rather than a garden, doing some DIY or parking the car in the street. Last on many people’s list is buying on a busy road!
Yet consider that advantages. Firstly, properties on a busy road are usually considerably cheaper than similar properties in a quiet street. This means that you can buy far more for your money. It could well mean that you will not have to compromise on those very things that contribute to an attractive property lifestyle. You might actually gain attributes such as a playroom for the children, a garage for the car, or a garden large enough to exercise the dog.
Most people who live on a main road tell us that they no longer notice it. And there is no reason to think that such a property might be a poor investment either, because just as you bought it at a discount, so you will sell it in the future – although by then it may well be in a traffic-calming zone!