There are many obvious things that you’ll be asking when house hunting, like the price of the property, its general condition, and whether or not you can see yourself living with your family in the home. However, let’s dig a little deeper.
What does the neighborhood look like? What do the neighbors’ homes look like? From a numbers perspective, the neighbors’ homes and the marketability of those homes directly impact the value of your home. So, pay attention to what the general area around your home looks like.
How are the schools? What is the school system like? Are you near one of the higher-ranked schools? Ideally, you want the schools in your area to be higher ranked. Even if you don’t have children or children of school age, it does matter when it come to resale value.
What are the average utility bills on the property? You want to do some research and get an idea of how much it costs to run the home from a utility perspective. In Arizona, you’ll see a higher summer A/C bill than other areas, or a higher heating bill during the winter in Michigan. It may cost more to maintain that property than you anticipated.
How old is the home’s roof, furnace, water heater, and A/C unit? You want to know the age of these things because there’s a high likelihood that if you stay in the home long enough, you will be replacing these items. If any of these items look like they need to be replaced in the near future, you’re going to want to factor that into the price when you submit an offer for that property.
What’s the traffic like in the area? How close are the main roads? What’s the traffic like during different times of the day? How close your home is to these main roads can produce a fair amount of noise in the area, and absolutely impacts the value of the home.
If you have any other questions or you’re looking to buy or sell a home, please don’t hesitate to reach out to us. We look forward to hearing from you!