What Effects the Resale Value of your Home?

During the past year we have discussed a number of different things that can effect the resale of your house. Most of the topics covered features about the house and property that you could effect directly.

We discussed maintenance to your home, where and when to put your money into upgrades, the importance of curb appeal and the positive effects of reducing the clutter in you home and staging your home for your prospective buyers.

There are a few other things that effect the resale value of your home. Some that you should consider even before buying your next home.

The neighborhood that your home is in is one of the most important aspects considered when buying a home. You’ve probably thought of this factor for in terms of safety, but have you considered the impact of the neighborhood on the actual resale value of your home?

When you are buying a home, location can be everything. The term “local neighborhood” will often be used. This encompasses not only the area where your new home is actually located, but also surrounding stores and other businesses.

The neighborhood you choose will depend on your specific preferences. How important is the walkability and livability of the neighborhood?  Is the home conveniently located near such businesses so you can access them easily? Can you pick up groceries, visit restaurants and local stores, run errands without the use of a car?

If this is important to you or the next buyer, purchasing property in a residential area nearby would be a good idea.

Or, would your choice be a more secluded area, outside of town, where you can see the night time sky with all its many stars?

Whether your new home is located in a secluded area with a lot of land or in a busier yet quiet neighborhood, it will have resale value.

Those who come to look at your property when it comes time to sell will have an idea of the type of neighborhood in which they want to live. Like you, they will know their own particulars and research them accordingly.

Just as there are many features that can help resell a home, the environment of its location can influence future sales. Schools and  parks located in the immediate area can also help resell a home.

Neighborhoods with well-manicured lawns and houses that are kept up will speak volumes to potential home buyers.

The presence of nearby public transportation may be important to some residents, especially those who are unable to drive or do not own a car. Here, quick access is necessary. Not all neighborhoods allow public bus systems to run regular routes, so finding this feature can sometimes be difficult.

The state of the neighborhood is also an important factor to consider when buying a home.

Before buying a home, choose your neighborhood carefully. This will serve you well both for the duration of your stay, and when you decide to sell. A good neighborhood can be just as important as the home itself and can definitely influence the future of your investment.

Fortunately,for home buyers and sellers looking for property in the Southern Midcoast area of Maine, there are many choices to match their preferences. Please contact Morton Real Estate to help you find the perfect match for you.

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