We just moved to the states where the market is soft and looking at the houses for sale here I wouldnt do it unless you're planning to stay there long enough to sell with the possibility to deeply discount.. In this kind of market properties that have a red flag like this take a really long time to sell even at low price.
An example-- we looked at one house similar to what you're talking about-- big house, far from street, many upgrades etc. it started near 700k, and has now dropped to below 500k. We live in a highly desirable area with a top school district, and anything on a quiet street sells quickly. Pretty much anything on the market is on a busy street or train line.
Even though you might be able to live with it, the busy street will be an issue unless the market picks up in my opinion. I was pretty keen to put an offer in on that house I described when it was in the mid 500s, but my wife wisely warned me against it. In the end we found a great house on a quiet street for a lot less, so I think if you have some time it's worth waiting.
|