Blog :: 08-2015

5 Things That Could Affect the Value of the Home You're Looking to Buy

5 Things That Could Affect the Value of Your Home

When you're looking to purchase the perfect home, you'll want to consider not just the property but the neighborhood too. A bad home location can change a perfect house into a money-losing nightmare. Crime, construction and environmental changes can all have an impact on the future value of your dream home. Here are the top five things to consider when shopping for a new house.

1. New Substantial Construction

New road construction or upcoming projects can be a good thing if they're an improvement. But if they lead to nearby property changes or substantial alterations to the neighborhood traffic patterns it can drop the value of all the homes around. Check with the town to find out any projects that are in the planning phase.

2. Flood Zones

Whether your concerns are hurricanes or changing global climate, a home in danger of flood is at risk of significant devalue. A quick search should determine the overall risk for your location. When looking at potential homes, look for signs of previous flooding such as water stains, rot, mold or even standing water.

3. School Redistricting

A top deciding factor in many peoples' home buying decisions is how well the school district scores. But even if the house your looking at scores favorably, you'll want to make certain there aren't any redistricting plans in the works as they could affect how it scores in the future.

4. Signs of Criminal Activity

Nothing drives down the value of property like a neighborhood on the decline. Excessive graffiti and gang signs can be indicators that criminal activity is on the rise in the area. There may be other markers, such as reinforced doors and gates or posted neighborhood watch signs.

5. Bad Neighbors

Conflicts in personality are hard to predict: one person's nuisance neighbor is another's quick friend. But generally speaking, if your new home is located next to a known party house, you're probably not going to be happy there for very long. Check police log archives for history of noise or other complaints in the neighborhood.

Coldwell Banker Plourde can help you not only find your dream home, but do the research to make sure it is located in the perfect neighborhood as well. Contact us today. To view all of our blog posts - click here.

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