Photos would help. Resale will be harder as evidenced by current situation.

When I read gutting and redone to "today's lifestyle" I wonder if it has been remuddled. If the character's gone I'd pass it by.

The road would be more of an issue for me than a psychiatric hospital.

I found living near a highway (we were several blocks away) - it wasn't loud enough to hear when inside, but when outside I found that it took away what I enjoyed most about being in the yard -- I would never hear birds, frogs or crickets, just cars. If that's also what you enjoy about being outside, I would pass.

100% agree with everything said so far. I couldn't care less about the hospital, but the 4 lane road is a deal breaker - for me, and for a whole lot of other people.

Residential homes on a 4 lane highway are not desirable, to anybody. If you like the home and you don't care then that's fabulous for you because you can likely pick up a good deal. But heaven help you if you ever try to sell it again.

Location, location, location. Both of those are negatives, though the busy street would be more impactful on a day to day basis. I'd pass.

I would think twice about investing that much money in a home on a busy road, but every location is different. If $1.75M is a steep discount to what you'd pay for the house in a quieter neighborhood, and you don't mind the traffic, then it might be worth it. What kind of homes are around it and what have they sold for?

Me? No way on both counts.

Your housing market sounds very expensive. It must be much more for a historical home on a quiet street. You could bargain down for a good deal though. Sometimes deals are created just for those brave souls. :-) How big is the house? Is there a maid quarter with a separate stairway? If so you could make it an in-law apt and rent it out to hospital staff. Resident doctors always look for nearby apts. Does the property have a big front yard? Can you plant trees to block the busy traffic? How much did similar houses on the same street sell per sq ft (within a year)? Identify possible bargain price range.

In many areas, not sure where your prospective home is, proximity to a freeway or major highway is a big plus. I live in northern v

Sorry got cut off. In Northern California living very near a freeway entrance or highway entrance is a huge bonus!

rustynail-

An aside: you can always edit a post using the button at the bottom of the message.

Not in the app - you can only do that on the desktop site.

wacokid-

True about the app, which is why I don't bother using it. But you can access the forums with your phone’s browser, which is what I prefer to do as I often go back and edit something :-)

OP asked about resale -- living on a busy main road is generally considered a negative, especially for people with kids. Strike one right there. The fact that it's a psych hospital is going to be an issue for some people, not for others -- potential strike two. The hospital itself is a big potential strike three. I don't want to look at nor hear the noise from any hospital regardless of psych or not -- delivery trucks, building maintenance, grounds maintenance, cars, etc -- they are busy places, 400 beds isn't huge, but it's also not all that small. What about smells? A hospital I used to work at a long time ago had an incinerator -- the odor was bad on burn days (a really weird smell -- not even sure how to describe it).

Since location location location is the #1 most important thing to consider with resale -- do you really want to plunk down 1.75M with all those negatives?

The fact that it’s been on the market for 6 months without selling says a lot about the potential market for this home, particularly at that price.

"The fact that it’s been on the market for 6 months without selling says a lot about the potential market for this home, particularly at that price."

Ooop, missed that -- yea that pretty much sums it up right there.

But the past 5 months have been heavily influenced by Covid19 as well. I would assume that has had an effect on the housing market too. But I do agree that the two issues mentioned would be a no go for me. Particular concern for resale ability and value.

mxk3-

That just underscores all the good points you made ;-)

prairiemoon- Where I live, we have one of the hottest housing markets in years right now, so I wouldn’t place too much stock in the idea that covid-19 is why this place hasn’t sold. In any case, if it was such a deal, it would have sold when it first went on the market...near the beginning of the year when life was pretty normal and before people were aware of what was coming with the pandemic.

Great points Kudzu - and very surprising that the housing market is hot where you are. Who knows, maybe it is here and I haven't noticed. [g]

prairiemoon-

I'm sure it depends on the part of the country. I wasn't totally dismissing your point...I just think there is a lot going on with this particular house. It would be interesting if the OP would post the listing.

What's the selling history? If the price is right, buying a house next to a hospital can be a good move as a investment property. You'd have resident doctors lined up to sign long term leases (3-5 years). And you'd be the first to have power back in a storm. ( two good points right here! Can't you see?! :-) Touched down twice! :-) ) If the price is right I'd buy a house next to a hospital, and rent it out per room to hospital stuff. You'd be surprised the rentals are normally higher near the hospitals. The price is high might be something to do with being next to a hospital.......

It would be nice if we could see the listing........