The neighborhood and amenities could boost the value of your home. People who think that house upgrades can only add value to a real estate property should understand that neighborhood comes as the major factor behind the price hike. Some neighborhood features cannot be ignored because they attract buyers and increase the value too. If you are looking to buy a house, here are 4 neighborhood features you should not overlook.
Having a thriving tree canopy in the place can also increase the value of a property. Many real estate developers cut down big trees and plant new ones. But if you find a community with healthy trees, it not only shows the strength of the neighborhood but also adds more value to it. The more a neighborhood is close to nature, the higher the value will be. Trees if available in the front yard are responsible for up to 5% increase in a house’s value. In some areas, this ratio goes up to 15% as well.
Walkability – environmental, health, and economic benefits
It is not always a home’s square footage that adds boost the value of a house. Instead, some home buyers focus more on walkability and interesting neighborhood. If you can walk to the nearest businesses, healthcare facilities, general stores and coffee shop, the neighborhood will surely add more value to your property. Such neighborhood becomes the most special place for homeowners and even if you don’t see all the features in a neighborhood at present, but see a definite sign of their presence in future, it’s the time when you’ve found the perfect home. Some people jump into the market with a mindset that they can actually spend more for such amenities.
Essential services nearby
Whether you are looking for a house in a suburb or inside the city, the more convenient access to shopping and services is, the better prices you can expect in the future. Home appraisers consider these factors when they evaluate the value of a property. In a neighborhood, if the homeowners can easily access essential services such as banks, grocery, retail stores, restaurants, fire and police services, the more value a house can get.
Some of the information related to town and city planning for the future are available online. Find out what a location has in store for the future and invest in a property where you see the growth. In a city like Bangalore, Whitefield and Thanisandra areas are the finest examples of how property owners can see tremendous growth. From metro to highway projects, and IT Park, everything is now assuring people about highest growth possible.