Will the Neighbourhood Go Up in Value?
When you purchase a home, you hope it will continually go up in value – just like a good investment.
However, there’s something else that you also want to see increase in value: the neighbourhood. In fact, the neighbourhood plays a key role in what the home will be worth in the years to come. If the neighbourhood goes down in terms of desirability, so will the market value of the home.
So, when you’re shopping for a new home, get a feel for the value of the neighbourhood, 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 in ownership” – a clear indication that owners value their homes and the neighbourhood.
Another way is to do some research. Has crime gone up in the neighbourhood? Are there improvements planned, such as new parks? Is the neighbourhood attracting the kind of people you want as neighbours? How do the neighbourhood schools rank?
Some of this information may be difficult to get on your own. As your real estate agent, I can help. Call today.