After several years of diligently saving money, I’m nearly ready to purchase my first home. Because I’ve been thinking about buying a home for so long, I know exactly what I want my house to look like. I desire a place that has three bedrooms and three bathrooms. I also need a quiet space to set up my home office in. I want a massive, walk-in closet in my master bedroom. My master bathroom needs to have double vanities, a tiled, walk-in shower, and a Jacuzzi tub. On this blog, I hope you will discover how to set priorities during your new home search. Enjoy!
A New Home Search
3 Factors That Increase Neighborhood Property Values
Elli Jokela
When buying a new home, you have a lot to consider. You want a home that's beautiful and comfortable and that has all the amenities on your list, from walk-in closets to a fenced-in backyard. But in order to protect your investment and ensure your home will go up in value, you should also pay attention to the neighborhood where the house is located. Here are three factors that may lead to an increase in neighborhood property values:
Access to Public Transport in Urban Areas
When living in a city, many people would prefer not to own a car or to only drive on occasion. The reason for this is that urban traffic and parking are often stressful and time-consuming.
For these reasons, owning a home that's close to public transportation options, such as a subway stop, can make your home more appealing to prospective buyers in the future and increase neighborhood property values now. In fact, experts find that access to public transportation can increase property values by a whopping 24%.
Access to Popular Grocery Store Chains
Neighborhood property values also tend to increase when homes in the neighborhood are close to certain popular grocery stores. Homebuyers like to know that they can easily get their favorite grocery products by simply walking to the store or having a quick drive, instead of having to sit in traffic or commute long distances to buy groceries.
If a popular and trendy grocer is being built in a neighborhood, there's a good chance that homes there will increase in value.
Access to Great Schools
A third important factor, which applies to both urban and more suburban neighborhoods, is having great schools nearby. For families who already have small children or plan to have kids in the future, it is reassuring to know that their children will be able to attend schools offering reliable, quality education.
Online reviews and forums are available where you can look up schools by zip code or county and see how they score on testing as well as factors like college acceptance and parental satisfaction.
Living in an area where neighborhood property values increase steadily means that your home will also increase in value, earning you more money someday when it's time to sell and increasing your equity in the meantime. Be sure to work with a real estate agent who knows your local neighborhoods inside and out.
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