Did you know that your type of neighborhood can increase or decrease the value of your home? Your home and neighborhood comes as a package deal. An average home can increase in value, if it is located in a sought after neighborhood. Meanwhile, a nice home can decrease in value if it's located in a neighborhood popular for the wrong reasons.
Here are some of the things to look for in a neighborhood:
- Safe neighborhood with a low crime rate It is one of the first things that most buyers look for in a neighborhood. A safe neighborhood can attract more buyers and most of them are willing to pay a premium price for it.
- Nice street-scape This can include a clean street, with nice homes including well-maintained gardens. The upkeep of your neighbor's house can increase or decrease the value of your home.
- Quiet street Don't buy along busy streets, especially along garbage routes. No matter how nice your home is, a noisy environment can have a negative effect in your home.
Here are some of the things to watch out in a neighborhood, that can decrease the value of a home:
- Problem neighbors If an owner is selling his house because of a dispute with a neighbor, check out the problem. You don't want to buy the problems that come with the house, including those with your future neighbor. Check with the police for any complaints filed against your future neighbors.
- Noise Visit the location several times, on a weekday and weekends to make sure that the noise level stays the same. Some neighborhoods can transform to a party venue during nighttime or the streets can get really busy during rush hour. It is also a good way of checking if you have noisy neighbors. Visiting only in a certain time of a day might conceal problems that can surprise you when you move in.
- Graffiti, a nearby vacant lot turned into a dump or an empty dilapidated house can project a negative image in a neighborhood. Watch out for things that make the surrounding area look dirty. You should buy the worst house on the best street, not the other way around.
I hope you find these tips useful. Next time you look for a house; don't forget to look beyond the house. Your neighbors and surrounding environment can affect your way of life. Come selling time, it can increase or decrease the value of your home.
If you're looking to buy anywhere in Northern Virginia, give me a call. I can orient you to some of the best neighborhoods in the area. I've been selling homes in the area for more than twenty years, so I know which ones has the most potential for appreciation or the most ideal to raise a family. We can schedule a showing of homes that will best suit your individual needs and requirements.
See you soon,
Sherry
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