When
you purchase a home, you’re hoping it will continually go up in value — just
like a good investment.
However,
there’s something else that you want to see go up in value as well: the neighborhood.
In fact, the neighborhood plays a key role in what the home
will be worth in years to come.
If the neighborhood goes down in terms of
desirability, so will the market value of the home.
That’s
why, when shopping for a new home, it’s important to get a feel for the value
of the neighborhood, and whether or not it’s on the upswing.
How
do you do that? One way is to simply take a walk. Look at the properties. Are
they well maintained? Is the landscaping groomed and attractive? Those are
signs of “pride of ownership” — a clear indication that owners value their
homes and the neighborhood.
Another
way is to do some research. Has crime gone up in the neighborhood? Are there
improvements planned, such as new parks? Is the neighborhood attracting the
kind of people you want as neighbors? How does the neighborhood school rank?
Some
of this information may be difficult to get on your own. A good REALTOR® can
help you. Call today.
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