Home Proximity And Value
You are familiar with the term “location, location, location” but, did you know that having a Starbucks nearby can literally increase a home’s resale value? Proximity, whether to something perceived positive or negative can play a much larger role than you may have thought in a home’s value.
It has been found that having close grocery stores, convenience stores, retail shops coffee shops, nearby parks, entertainment, beautiful water features such as lakes, oceans and river as well as easy access to transportation all have a positive impact on a home’s worth.
On the flip side, being near overhead power lines, power plants or water treatment facilities, flood zones, busy roads, a dump site, airports, adult oriented businesses and criminal facilities or near a neighbor with a criminal background could all possibly have a negative effect on a home’s value.
It’s also really important to think about a home’s location when looking to buy, not only for your own reasons but also in the case of resale. Some negative factors above could impact your ability to sell your home in a timely fashion.
Special note: Licensed Real Estate Agents are not legally allowed to share certain pieces of information with you like criminal activity in the area, so it pays for you to research with the local police departments before you choose a home.
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