· A well-groomed neighborhood will affect the value of your home. By caring for the appearance of their homes, home owners help to create an aesthetically-pleasing environment that future buyers will want. Make sure you drive through the entire neighborhood when considering your home purchase. Notice how the neighbors care for their home, lawns, gardens and cars. Be careful if you see run-down houses and abandoned cars.
· Good schools and communities located within strong school districts tend to support higher home prices. "The school district is important in terms of increasing demand for that particular area," says Richard Moody, chief economist at Mission Residential. Would-be home buyers can determine the strength of a local school system by accessing the web and searching for specific school districts.
· Low crime rates support strong home values. Few people, if any, want to live in a neighborhood where they feel unsafe. It is important to obtain crime statistics for the neighborhood you are considering moving into. There are numerous websites regarding crimes in a specific area of town. Contacting the local police department is another great way to learn more about the safety of a neighborhood.
· Proximity to public transportation or commuter rails can also help boost home values. Access to bus lines and commuter rail lines is of huge value as the price of gas rises and people are becoming more aware of their “carbon footprint.”
· Watch for population trends. "You want to see a track record of steady population growth, which supports growing demand for housing, which will in turn support rising home values," Moody says. Such data can be found online at the U.S. Census Bureau, or though local county or township web sites, he says.
· Healthy employment growth is very important, especially in this economy. A healthy employment outlook is a key component of a strong housing market.
U.S. News
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