- It is important to find the right area if you are thinking of buying a house, especially if your concern is resale.
- Certain neighborhood features can help increase the value of your home and make you feel at home in your new community.
- We have some tips to help you choose the right community for your home search.
Here are the Factors that Impact Your Home Value Every Time
Finding the perfect house for you is only half of the battle when it comes to home hunting. Your future community will determine how close you live to amenities, the quality of your home, and who your neighbors are.
The market price of your home will determine its value. However, we know that every buyer is different. One buyer might prioritize close employment opportunities while another buyer might be more concerned with local entertainment and amenities. Property values are always affected by one component, namely where they’re located.
This guide will help you find the right neighborhood for you!
Location, location and location
This is something you’ve heard before. But it’s so crucial that we must repeat it: location is everything when it involves making a good investment in your next house. It’s simple: Generally, the prices of all homes in a given neighborhood are the same regardless of their size or condition. When it comes to the valuation of a property, its location is more important than its characteristics.
An appraiser assigns a property’s value based on its geographic location. They consider three main factors: the reputation of nearby schools, employment opportunities, as well as proximity to entertainment. These factors are not the only ones that influence the home’s value.
For more value, neighborhood amenities are a must-have
There are many amenities right outside your door. When looking for a home, buyers often prioritize amenities such as pools, golf courses, and community clubs. These features, and many more, foster a community atmosphere that is inclusive and fun. A spacious clubhouse is the ideal venue for hosting events that will bring neighbors together.
You can also find out what future improvements your neighborhood has planned through its digital planning documents. These documents will outline the improvements planned for your community, such as nearby schools and parks, and when they will be completed. It’s a good idea, in general, to verify if there is a homeowners association. Your HOA will help maintain and enhance the community’s value over time.
You should also consider other conveniences
You’ve already considered the basics like commute times and local attractions. But what about everyday conveniences? You need to consider the small details when searching for a home. You can map out the distances between the nearest hospitals, airports, and grocery shops when you are evaluating the location of your neighborhood.
Utility bills are a necessity for all of us. You can save money if you look ahead at who your local providers might be. We recommend consulting your agent to help you determine the impact of your local property taxes on your home-buying budget.
This post was written by a real estate expert from the Dotoli group. Josh Dotoli is Paramount Residences #1 Selling Realtor with nine sales in 2021, 3x more sales than any other Realtor selling in the building. The Paramount Residences enjoys a prime beach area location. It is a Ft. Lauderdale oceanfront condo located across from the beach. Looking for a Paramount Condos For Sale Fort Lauderdale? Contact us today!