Will the neighbourhood go up in value?
When you purchase a home, you’re hoping it will continually go up in value
— just like a good investment.
However, there’s something else that you want to see go up in value as
well: the neighbourhood. In fact, the neighbourhood plays a key role in what
the home will be worth in years to come. If the neighbourhood goes down in
terms of desirability, so will the market value of the home.
That’s why, when shopping for a new home, it’s important to 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 of 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 does the neighbourhood school rank?
Some of this information may be difficult to get on your own.
A good REALTOR® can help you. Call today.