PROPERTIES AFFECT VALUE”
The next time you are shopping for
a home to buy, don’t ignore the properties that surround the subject house
on all four sides. They can have an enormous impact on the value of your future
home when you decide to sell. Here are some things to remember
EQUAL OR GREATER VALUE: It is always wise to buy a house surrounded
by homes that are of equal or greater value. They will help pull the value of
your house up in the years to come. If, on the other hand, you had more money
invested than your neighbors, you would have a tougher time maximizing your potential
profit. You don’t ever want to own the most expensive home on the block.
STRICTLY RESIDENTIAL: It is not a good idea to buy a house adjacent to
any property other than single family residential. Don’t purchase a house
that backs up to a school yard, apartment building, store or office building.
You don’t know what use or misuse will be made of those properties. If you
have similar homes all around you, your investment is more secure and desirable
to potential buyers in the future.
VACANT LOTS: Don’t buy a house next to a vacant lot. You
never know what kind of structure will be built on the lot and how it will affect
the value and enjoyment of your property.
CONDITION: If an adjacent house is in poor condition, don’t assume
that it will be fixed before you decide to sell.
ADVICE: As you can see, there are many things to consider when
buying a home. Use the services of a professional, your Realtor®.