Should You Buy a Bargain Property? What to Consider Before You Commit
Ever found a property at an unbelievably low price and thought, “What’s the catch?” More often than not, there’s a reason behind a bargain home—and it’s often tied to the location.
While you might be happy to overlook a less-than-ideal neighbourhood, future buyers may not feel the same way, making it harder to sell when the time comes.
New research from Compare the Market highlights the top five location deal breakers for home buyers. These factors could lower property prices, but they might also create challenges down the track.
1. Living Near a Landfill or Tip
Nobody wants to live near a rubbish dump, and close to one in three Australians say it’s a major deal breaker when buying or renting a home.
The smell, sight, and potential pest issues can make a landfill-adjacent property much harder to sell later. Investors, take note—tenants are unlikely to be lining up for a home with an unwelcome odour in the air.
2. Under a Flight Path or Near an Airport
Being close to transport hubs is a great selling point, but living under a flight path isn’t quite the same as having a train station nearby.
The constant roar of aircraft, early morning take-offs, and late-night landings could make it tough for some buyers to overlook. In fact, one in five buyers say they wouldn’t put up with airport noise.
3. Next to a Cemetery
A beautiful home with quiet neighbours—sounds great, right? Well, maybe not if those neighbours are resting in peace.
Living next to a graveyard isn’t for everyone. 16.5% of buyers say they would steer clear of a property near a cemetery, possibly due to superstitions, resale concerns, or simply not wanting to live next to tombstones.
4. On a Major Highway
If constant traffic noise, exhaust fumes, and the occasional screech of brakes don’t bother you, a home near a busy highway could be an opportunity for a good deal.
But for more than one in ten buyers, the reality of high traffic volumes makes a home on a main road a hard pass.
5. Beside a Railway Line
Living near public transport is convenient—but for some, living right next to a railway line is less appealing.
Around 7% of buyers say they wouldn’t purchase a home next to train tracks, due to noise, vibrations, and privacy concerns.
What’s on Your Location Blacklist?
Interestingly, no one location factor turns off the majority of buyers—meaning it comes down to personal preference.
For some, flight paths are a deal breaker. For others, it’s just a normal part of urban life. What matters most is considering any location drawbacks before buying.
If you find a property that ticks all the right boxes except for the location, you may be able to use these factors in price negotiations. However, if the location is seriously undesirable (think sandwiched between a cemetery and a landfill while being under a flight path), it might be time to look elsewhere.
Finding the Right Balance
Choosing the perfect location often involves some trade-offs. You might need to compromise on land size, number of bedrooms, or other wishlist items to avoid buying in an undesirable area.
A great starting point is understanding your borrowing capacity—so you can weigh up affordable locations that work best for your lifestyle and long-term plans.
Need Help Finding the Right Property?
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Disclaimer: The content of this article is general in nature and is presented for informative purposes. It does not constitute tax or financial advice. Consider your personal circumstances and seek professional advice before making any decisions.
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