4 Threats to Real Estate Value: Is Your Home Affected?

Mar 12, 2013 No Comments by

So you’ve finally found the home of your dreams. But have you done your long-term home value homework? Here are four potential detractors to seeing a strong return on your investment.

Bad Neighbors – They are not only annoying, but they can single-handedly lower your home’s value. You could have the prettiest house on the street, but if neighboring properties are in disrepair or unkempt, your property will feel an adverse impact.

Criminal Element – Before you settle on a home, be sure to look up criminal registries to see if your next-door neighbor has a record. Sex offender registries are in the public domain and are easy to access. Keep in mind that unsafe neighborhoods nearby may increase your home insurance premiums.

Not-So-Ideal Adjacent Properties – If your home is situated near a construction site or land fill, you are almost certain to see less than what you put into it—should you choose to sell. Surroundings of a property should be a prime concern.

Bigger May Not Be Better – Did the size of your home prompt you to buy it? Were you captivated by how large and spacious it was? It may surprise you to learn that this may ultimately reduce its value. If your home is much larger than any other property in your neighborhood, it might prove more difficult to sell. Moreover, you might be forced to sell it for less than the original purchase price.

Before you dot the I’s and cross the T’s, there are several things you should consider before finalizing the purchase. In addition to determining how much you receive when you sell, some of these factors may increase your home insurance premiums and cost you money in the meantime. Your home is likely to be your largest investment; one that you want to grow in value—not lower.

Home Insurance, Home Security

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