Since you want to buy a house that will gain value over the years that your family lives in it, it is vital that you take certain things into consideration before you buy a new home. While you will never be able to control how other homeowners care for their properties in your neighborhood or what they sell their properties for, other factors can greatly affect the value of your home over the long-haul, including each of the following:
The Quality of the Local Public School District
One factor that has always raised property values and kept them higher than surrounding areas is the quality of the local public schools. Even if you do not have any children and do not plan to have any in the future, buying a home in a good school district is one way to protect your investment.
You can determine the quality of local schools with a simple online search. As you look at the schools' ratings, make sure you look at their ratings for the past few years to ensure the schools are improving and not in a cycle of decline.
The Local Business and Employment Climate
In order to sell your home for a profit in the future, you need to have a buyer who can move to the area and have a place to work and local businesses where they can shop.
For example, if the town is in decline and businesses are leaving, then where will your potential future buyers shop for groceries and home improvement supplies? If they will need to drive a great distance, then this will lower the value of your home.
Additionally, local jobs are very important for buyers and their families. If there are very few jobs in the area where you purchase your new home, then people will move their family to a different place where more opportunities exist.
The Local Crime Rate
Finally, it is very important that you purchase your family's new home in an area with the lowest crime rate possible. Even though all areas have to contend with some crime, a higher crime rate will raise your homeowner's insurance premiums and will make your home less desirable for future buyers.
As with local school ratings, you can also use a quick online search to get all of the crime stats about any area you are considering for home purchasing. If you are making a choice between homes in various cities, use the crime statistics to determine if your property will likely gain or lose value over time.
To learn more, contact companies that have real estate for sale.Share
26 April 2017
Have you recently found out you’ll soon be moving to a new location? Perhaps, your employer is transferring you to another branch of the company in a different city. Or, you may need to move near a family member in order to take care of him or her. Regardless of your unique situation, you might worry you won’t be able to find a wonderful place to live in your new city on your own. Consider hiring a reputable real estate agent to help you with your house search. This professional should have in-depth knowledge about your new area. On this blog, I hope you will discover the many advantages of hiring a real estate agent during an unplanned move. Enjoy!