As you look into buying a home, one important feature that can affect the resale value of your home is the location. When you buy a home in a desirable location of town, it will be much easier to sell as more people are willing to purchase it. This will definitely raise your resale value and you benefit from a higher profit margin. However if you buy a home in less searched for locations, the resale value will be lower due to less demand. Let’s examine some of the neighborhood features that can raise the value of your home.
1) Schools – The higher the quality of the school, the more desirable the area is. If you don’t have children, or you plan on sending them to private schools, this feature may not matter. However the next family that buys your home might want children and may be willing for pay more for it. If you plan to use public schools, you definitely want to make this feature a priority.
2) Local Crime Rate – Who wouldn’t want to live in a city with low crime? While this may be high on your list of desirable neighborhoods, be prepared to sacrifice more in travel time to work and other daily activities. You’ll find rural areas to have a lot less crime than the crowded metropolitan areas.
