Three Types of Neighbors That Will Improve Your Home’s Value

Feb 18, 2013 No Comments by

While home improvements can improve property value, neighbors are a huge factor in the determination of your property’s worth as well. We’re not only referring to Joe and Jane next door; places and organizations can be a home’s best friend in terms of improving home value. Here are three neighbors your home would love to have in order to maximize ROI.

Parks – Green means green for homebuyers looking to drive up value. Homebuyers with children or dogs place proximity to parks high on their priority list. Stable families often equate to stable incomes.

Golf courses – A golf course is different from a park in that it attracts affluence. The standard demographic of golfers are men in their mid-thirties to retirement age with disposable income. This positively impacts your home value, because it implies that your neighbors have money to invest in the community and their home. So as long as an errant golf ball doesn’t come through your window, this neighbor is a good one.

High-profile individuals – If you live in an area that is a hot bed for celebrities, you have struck gold as far as improved home value is concerned. Celebrities make places must-visit and must-own neighborhoods, which can only benefit your property.

Improving home value should always be a main goal for any homeowner. Obviously, the characteristics of the home itself will determine a large share of its value. But before you even settle on a property, consider your neighbors and consider how they will affect your home’s long-term worth.

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