Living next to these 3 landmarks can increase or decrease the value of your home

By
Services for Real Estate Pros with Representative

So, you’re looking to buy a house. Finding the right home is challenging, to say the least. Many real estate markets are still sellers’ markets, not to mention that you have to decide really quickly if you should outbid the competition. The important thing is to not let that get you down. If you stay focused and make an effort, you’ll eventually find the home of your dreams. Indeed, it will take a long time to secure a home that makes you and your loved ones happy, but waiting is worthwhile. You’ll have a place of your own, where you can make lasting memories and unwind at the end of the day. 

Location is key when investing in property. You’ll have to make a lot of sacrifices to stop renting and become an owner. Nonetheless, don’t sacrifice the perfect location just so you can have more room. Any realtor will tell you that location is a crucial factor, especially if you have school-age children. You should consider the location of your future home if you intend to rent the house, want a more ideal commute, or need to access certain amenities. Sometimes, the number of bedrooms, the square footage, and the school don’t matter as much as the location. 

When searching for your ideal location, take into consideration your enjoyment and the ROI. Who knows? Maybe you’ll want to sell the property later on, when the kids are all grown up. Living near a landmark can increase or decrease the value of your home. Isn’t that interesting? Local landmarks have the power to boost or hinder property price, so you shouldn’t rush to make a decision. Living next to the following landmarks can be a complete deal-breaker or a miracle in disguise. Here are some important things you need to know when it comes to the location of your house. Please read carefully. Investing in real estate isn’t gambling.  

  • Cemetery

This might sound creepy, but some people don’t mind living near a burial ground. They’re not scared they’ll be haunted by ghosts. If cemeteries don’t give you a spooky or uneasy feeling, you should take into account the possibility of buying property near one. It will have a minor negative impact on your home’s resale value. Most importantly, real estate developments near cemeteries are less appealing, so you don’t have to worry that the land will be developed into the multi-family property or commercial buildings. You’ll enjoy a peaceful neighborhood. Of course, there will be occasional noise from funeral processions and visitors, but cemeteries tend to the quiet all year long. 

As you can imagine, homes located near graveyards tend to be more affordable. A house that’s right next to a cemetery will stay a long time on the market, waiting for a buyer. So, the owner will have no choice but to reduce the price of the property. The median home price in neighborhoods with a burial ground is lower than similar properties in other areas without cemeteries. The point is that a cemetery can turn out to be a plus or a minus when selling a house. If you cherish the connection to history, find a national historic landmark. 

  • Casino

Where a gaming facility is located among important roadways and population centers determines how many visitors will stop by, how much revenue will be generated, and whether or not the business is viable. Casinos that aren’t easily accessible to those looking forward to jugar a tragamonedas y otros juegos de casino populares (to play slots, in other words) are unlikely to succeed in the local gaming market. Gaming establishments are, therefore, built-in residential areas to revitalize the local economy and funnel money to the government. The question now is: Is it a good idea to have a home near a casino? 

Some say that casinos have negative impacts on neighboring homes. The truth is that houses situated in close proximity to a casino come in a little cheaper. Traffic isn’t easy, but at least you’ll score a good deal. And you’ll have to put up with the twinkling lights. On the bright side, you’ll enjoy enhanced amenities, such as gorgeous views. Don’t you imagine yourself living in a place with an ocean view? There are some very exclusive and expensive homes in the area too. The presence of a gaming establishment can improve the value of surrounding residential real estate. 

As a host municipality, the city receives a certain percentage of the revenues, which is used to support charity organizations, community projects, local infrastructure, and so on. Recreational gambling promotes better health no matter the age. If you don’t know what to do in your free time, head on over to the casino and play blackjack. See if the gaming establishment has a website. Blackjack online esta a la moda, just so you know. Casinos have been associated with a higher crime rate, yet there’s no evidence to support this fact. In short, casinos don’t lead to an array of social ills. 

  • Power plant 

Many people would consider living near a power plant to be a real nightmare. And who can blame them? Higher death rates occur at early ages, not to mention the increased risks of respiratory disease, lung cancer, and other health problems. If anything happens to the power plant (like a fire or a flood), you’ll be in direct danger. Equally important, home values are negative if the property is near anything electrical. If you ever want to sell a home, living near a power plant would be a mistake. You’ll struggle to sell the house. The only way to overcome homebuyers’ objections is to adjust the pricing, which isn’t to your advantage

No matter what upgrades you make to the property, it won’t become more appealing if the location is undesirable. If you’ve decided that buying a house is the right move for you, don’t ignore the resale value. Don’t focus exclusively on whether the home meets your needs. Buy for now, but plan for later. As you search for your dream house, keep in mind how other buyers view each property you’re considering. It should be easy to sell when the time comes. 

Comments (3)

Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

So true.  Location location location. Great post, thanks and make it the best Thursday.  Bill Sa;vatore

Apr 08, 2021 04:59 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Location is so important to so many people. While the cemetery may not be an issue for some, the casino or power plant will reduce values.

Apr 08, 2021 05:10 AM
June Piper-Brandon
Houwzer Inc - Baltimore, MD
Piecing Dreams One Home at a Time

Location, location, location!!  Interesting observations, personally I wouldn't mind living near a cemetery.  The other two, not so much.

Apr 08, 2021 06:49 AM