Just when you’ve found the perfect house in London, you realise it’s near a tube station. But the question is; should you buy this house or should you give it a miss? Should you live near a tube station?
There are a number of factors to consider when buying a house near a tube station, which include noise, commuter convenience, how easy or difficult it will be to sell the house in the future, what you can afford and what effect this will have on future house price increases because it’s next to a tube station in London.
It is for these reasons why you need to consider carefully whether you should buy a house near a tube station.
You should only buy a house near a tube station if the location enhances the house’s desirability for commuters and the tubes cannot be heard from the house, unless noisy tube trains don’t trouble you. But you must consider future saleability, as others will not like the sound of noisy tube trains.
Before you leave, you may also like to discover how you could save you up to £71,475 when you buy your next house if it would originally cost £350,000. Alternatively, if you propose to buy your next house for £250,000, the saving could be up to £51,852 instead.
Does living near a tube station increase property value?
Living near a tube station will increase a property’s value if the tube line isn’t above ground and doesn’t run directly behind the house. In fact, according to CBRE Residential houses near tube stations grow by 2.1% more per year than the local authority average.
The best performing houses were those near to the Jubilee tube line and the Docklands Light Railway, which outperformed other houses in the borough by 3.1%. This was followed by houses near to the Central Line tube, which outperformed other houses in the borough by 2.7%.
What to look for in a house near a tube station
When looking to buy a house near a tube station, consider the following factors:
Is this section of the tube line above or below ground?
Does the house back onto the tube line if it’s above ground?
How close to the house is the over-ground tube line?
Does the house have double or triple glazing?
Find out when the first and last tubes run on the line.
Which side of the house are the bedrooms vs where the tube line runs.
Is the tube line on a corner, as tube trains are extremely noisy when they go around corners.
What to do before buying a house near a tube station
Before you consider putting an offer in on a house near a tube station, make sure to compare house prices of comparable houses not near a tube station.
Make sure to look at sold-comparables on sites like Rightmove, as this will provide you with the right information to confirm the price you are paying for this house is correct.
Should you listen to an estate agent about buying a house near a tube station?
You should not listen to what estate agents tell you about buying a house near a tube station, as estate agents work for the seller.
Anything the estate agent tells you will be biased and should be taken with a pinch of salt, as they are only interested in their commission. Always do your own research on house prices in the area before you buy.
What are the pros and cons of living in a house near a tube station?
As with anything, there are always pros and cons to consider. As far as buying a house near a tube station the pros and cons include.
What are the pros of buying a house near a tube station?
If you use the tube to get to work, living near to the tube station will be a benefit.
If the house suffers from noise due to the proximity to the tube line, you will get a bigger house for your money.
If you don’t like things too quiet, living on a tube line will make it more interesting.
Tubes don’t run through the night, so any noise will stop in the evening.
The house will benefit from stronger price growth if its not affect by noise from the tubes.
The house will be easier to sell if its not affected by noise from tube trains.
Houses affected by the noise of tubes are more affordable for first time buyers.
What are the cons of buying a house near a tube station?
Living near a tube line can be noisy if the section of the tube is above ground and runs behind the house.
Houses near tube lines are more expensive than houses further away if the tube line is underground.
Tube trains start early in the morning, so if the house backs onto a tube line, this could mean an early morning start to noisy tube trains.
The garden will be noisy when tube trains pass by if the house is next to an over-land section of the tube line.
If you are an early to bed person and a light sleeper, you won’t like the noise if the tubes are overland and run behind the house.
In the summer the house will be noisier with the windows open, if the tube line is above ground behind the house.
Be aware that ‘ghost trains‘ can run through the night to de-ice the tracks.
Overnight maintenance can be noisy.
Will you regret buying a house near a tube station?
To avoid having regret buying a house near a tube line, make sure you visit the house at different times of the day to see how noisy it will be.
If you are a light sleeper, you may find that living in a house near an above ground tube line is not a good idea, and may be a decision you would regret.
Can you get a mortgage on a house near a tube station?
You will be able to get a mortgage on a house near a tube station, but be aware that the valuation will reflect how close the house is to any above ground section of the tube line.
Final thoughts on should you buy a house near a tube station
If you are prepared to buy a house at a reduced price because it’s near a tube station where the tube trains are above ground and noisy, you will need to be prepared to sell at an equally low price too.
Think about how the convenience of living near a tube station might outweigh the noise factor.
But be aware that tube trains can be very noisy, especially when the go around corners. You will know this if you waited on a tube platform where the tube arrives on a bend in the track. The tube arrives squealing, as the metal wheels cause friction against the tracks.
Remember that tubes run very frequently and run in both directions, which means you may have a tube train passing very regularly, depending on the tube line the house is near.
But equally on a positive note, a house near a tube station on an underground section of the tube line will be a more desirable house.
Finally, you may also like to discover how you could save you up to £71,475 when you buy your next house if it would originally cost £350,000. Alternatively, if you propose to buy your next house for £250,000, the saving could be up to £51,852 instead.
I hope you’ve enjoyed this article about should you buy a house near a tube station
If you’ve enjoyed this article about “should you buy a house near a tube station” please share it on your favourite social media site.
Also, if you have any questions, please feel free to comment below too. Please also share any of your experiences with properties you’ve bought. Alternatively, if you need more help, please feel free to contact us on our contact us page here. Or join the discussion and ask your question in the property forum.
Should You Buy A House Near A Tube Station?
Related Posts:
Buying A House Near Train Station; Pros and Cons;… You should only buy a house near a train station once you have spent time listening to how noisy the trains are inside the house and in the garden. But…
Should You Buy House Next To A Railway Line &… You should only buy a house next to a railway line once you have spent time listening to how noisy the trains are inside the house and in the garden.…
Is It Bad To Buy A House Near A Cemetery: Will It… Properties near cemeteries take longer to sell, but as with any house when it comes to buying one near a cemetery it’s about location, as some research shows that houses…
Article written by Russell Bowyer who has been investing in property since purchasing his first commercial property in the 1990's for his own Chartered Accountancy business. But his first property investment project was to turn an old dilapidated restaurant into a large 5-bed home, which he purchased for £117,500 and sold for £450,000 (to see an "after" photo of the house before it was sold see here: About). Russell owns a number of investment properties, which includes houses, flats and HMO's. More recently he has turned his creative side to investing in property using lease options. His largest lease option deal to date was to acquire 12 properties worth over £2 million for just £12, which means he paid just £1 to acquire each property!
