Find the right neighborhood

Five Factors That Could Make Your Neighborhood Value Go Up Over Time

Choosing a good neighborhood, or one that offers promise, can increase the value of your home.

They say it's better to buy the least expensive house in a good neighborhood than to buy the best house in a bad one. Houses are more than just a roof over your head. They are part of larger community.

Some of the factors to consider when you purchase your next home include the following:

1. Good Schools

Whether you have children or not, choosing a neighborhood with good schools makes good sense.

The re-sale value of the property goes up when the prospective buyers can be assured that the community schools are recommended. You may inquire of your real estate agent to get educational information about school districts near your prospective dream home.

Facts such as driving distance from the house, honors and decorations to the school staff, and quality of the school campus can make or break the future real estate deal.

2. Neighborhood Amenities

The piece of real estate you have your eye on may seem like perfection until you weigh in the benefits from the local community.

Be sure to ask your agent how far essential businesses are from the property's front door. This would include grocery stores, gas stations, hospitals and moderate-to low-cost dining options. In some cases, a property that is near entertainment and shopping malls can be a big plus to the future buyers.

3. New Developments Add Neighborhood Value

Many cities and towns across the nation are undergoing a makeover one home at a time. Older and antiquated properties are being replaced by newer and more fashionable dwellings.

Though the area of concentration for your search may be in a low-cost region, keep an eye out for newer homes shooting up by the local residences. The immediate area where your home is located is upgraded as the city begins to improve.

4. New Communities

If you need an iron-clad guarantee that the city is going to be fresh and new, you may opt to purchase in an up-and-coming municipality.

New homes built on the outskirts of cities are a telltale sign that the region is expanding. Get your slice of paradise a little further out from the city center and watch a new world shoot up around you.

The flip side to the new community utopia is that you don't know exactly when things are going to get started. It may be months or it may be years, but you can bank on a vibrant new city being on the way.

5. Low Crime Rates

Crime statistics from almost every neighborhood are provided by the local law enforcement officials and their community relations departments. The statistics break down the rate of crime and the severity with a distinct separation of violent and non-violent crimes.

Petty thefts and misdemeanors should not always deter your decision to buy a home in that area. These low-level kinds of crimes will be found everywhere in the world — and may actually be a factor of different reporting requirements as opposed to real differences in crime rates — so they are not always a major concern.