The best thing about repairing your home is knowing that the money isn’t going away into the trash. When you fix your house, you are actually increasing the re-sale value of your home. That is why we always recommend doing the best research before buying a home. Today we’ll talk about how important it is to research where your home is located.
Things to consider:
- How is this area today?
- Are there new developments slated in the next ten years?
- What is the common profession of this area?
The area obviously matters in terms of how your home is valued. But most home owners stop at just how the area looks at this very moment. Remember, a home is a long-term investment. For that reason, a potential buyer should think deeper- and more long term. When it comes to researching the area around a house, many iphone game developer mobile apps are available- just as Zillow and Trulia. These will tell you what other houses in the area are worth!
Knowing what the area will become in the coming years is important- as it may greatly improve or decrease the value of your home. If the park next door is becoming a strip mall in 2 years- well, that could definitely affect the price of living by your house! Or if a new school is being built nearby that is state of the art- many families pay a premium for being in a good school district. You can find out zoning plans at the City Hall, usually.
Lastly, this is the most overlooked- the common profession. Let’s take Detroit, for example. If everyone in the area works in the car industry or are iphone game developers- and the car industy leaves Detroit, there may be a mass vacancy issue in your area- which will definitely destroy the prices of homes.
These examples are just a few to consider when buying a new house. Til next time!