By Sally Jones
Jan 3, 2024
When my husband and I were looking to buy a home in New York City, we found a perfect two-bedroom with character. But there was one giant, red flag: It was located about a mile from LaGuardia Airport.
Would the added noise, pollution, and traffic congestion in the neighborhood have us running for the nearest emergency exit? Or would we sit back, relax, and enjoy our new home?
Spoiler alert: I did a ton of research, and nothing stopped us from purchasing our dream home. Now, 10 years later, we have no regrets, even if we sometimes hear and see a 747 roaring overhead.
If you are thinking about purchasing a home near an airport, here’s what I considered on my homebuying journey to help guide you on your decision.
Concern No. 1: Noise
One of the biggest possible drawbacks of living near an airport is—you guessed it—the sometimes booming sound of planes landing and taking off.
So you’ll want to look into flight paths (check out a flight-tracking app like FlightStats) and noise reduction restrictions particular to the airport near a home you’re interested in.
Another good idea is to peruse noise complaints in the neighborhood you’re researching on forums like Facebook, Nextdoor, or Neighbors.
“Many airports across the country near residential neighborhoods have noise and flight time restrictions that make living near them a more positive experience,” says Jeff Miller, vice president of Northwest Region at Churchill Mortgage in Portland, OR.
But if the home is located directly in a flight path, you will experience significantly greater noise than your neighbors.
My reality: My home is one of the quietest I’ve lived in in New York. From time to time, however, weather patterns cause LaGuardia Airport to alter flight paths. Only then do we get to experience what our neighbors 10 blocks away live with daily, and it’s not pleasant.
Concern No. 2: Home prices
The inconveniences of living near an airport can affect the desirability and, therefore, home prices. But these days it might not offer the kind of discount many would expect.
“Some cities and municipalities buck the [lower home price] trend, mostly because of supply and demand,” says Jay Garvens, business development manager for Churchill Mortgage in Colorado Springs, CO.
My reality: Demand for homes to purchase is high in New York City, and supply is low, so even homes bordering the airport are expensive.
My home in the Queens borough cost about the same as the sales price on my previous home in Brooklyn, which was miles away from any tarmacs. However, I did get more square footage for the money, trading up from a one-bedroom condo to a two-bedroom.
Concern No. 3: Resale value
According to Miller, proximity to an airport only sometimes affects valuation because these things are already factored into property appraisals, which compare a home to other homes in the same vicinity.
“In appraising, there is a term called ‘external obsolescence,’” says Miller. “This is a form of depreciation caused by factors not on the property itself, such as environmental, social, or economic forces.”
My reality: How much my home will be worth when it comes time to sell will depend on the current housing market in my neighborhood—not how close I am to the airport.
Concern No. 4: Available financing
Most people who purchase a home require a loan. And a property’s proximity to an airport might affect the type of loan that buyers can qualify for, depending on the area’s residential zoning.
Sometimes houses around an airport flight can be in the local municipal property zoning classification of Planned Industrial Park or Airport Operation Approach Path rather than a residential zone classification, according to Garvens.
Conventional or government loans (Fannie Mae, FHA, and VA) are difficult to obtain when a home isn’t in a residential zone, so the financing could be limited.
“This typically affects the long-term valuation and appreciation,” adds Garvens.
My reality: New York City is a densely populated metropolis, with almost 75% zoned for residential use, so I had no trouble obtaining a conventional mortgage.
Concern No. 5: Pollution
Another big concern when it comes to living by an airport is air pollution.
The heated fuel of aircraft exhaust emits ultrafine particles, which can seep into the lungs and the bloodstream. Potential homebuyers with conditions such as asthma, bronchitis, and emphysema might immediately feel the impact of moving near a major airport. While some forms of air pollution are regulated, ultrafine particle emissions are not.
My reality: We live in an urban city surrounded by highways, so car emissions and pollution are something we’d already come to terms with.
The bottom line
The one real advantage of living near an airport is ease of travel. I used to fly frequently for my job, and the 10-minute taxi ride to LaGuardia is very convenient. This saves me time and hundreds of dollars I’d otherwise spend for airport rides and parking.
“There are some cities where it’s considered desirable to be close to an airport, especially for frequent travelers that live near travel hubs,” says Miller.
Source- https://www.realtor.com/advice/buy/buckle-up-i-live-near-an-airport-here-are-the-pros-and-cons/
