5 Features Of Neighborhood that May Appreciate Your Property

Many people buy house because “They Like The House”. Yes, this criteria is the best approach for making decision which house to buy if you value your current happiness the most. However, if you are a type of person who considers the value of the house at the moment you cash out in the future, then you must evaluate not only the current value of the house but the property’s future value as well.

Buying a house in the neighborhood with a potential appreciation has a significant advantage.

You May Earn More Money Then Your Purchasing Cost.

For example, according to data from Zillow, the average home value in Austin, Texas increased 57.5% in 2 years between April 2020, and April 2022. The average home value was $386,168 in April 2020, and it becomes $608,306 in April 2022. It means if someone bought a house in Austin Texas in April 2020, they would’ve made additional $222,138 if they sold their house in April 2022. This much of appreciation means, the house itself earned money for you $111,069 per year, even while the owners are sleeping.

For another example, a city in Maryland recorded 21.2% of appreciation for past 3 years. But, unfortunately, this appreciation is not equally applied through the whole city. Some neighborhood may have less attraction to the future buyers making their future value depreciate. It’s why we are leaning the features of neighborhood that may appreciate our property.

Buying a home is a significant investment, and choosing the right neighborhood is crucial for its long-term value. While some neighborhoods may experience a quick boom and bust, others possess inherent qualities that guarantee steady appreciation over time. So, what are the features of a neighborhood destined to become a hidden gem? Let's explore some key characteristics that will have your investment sparkling brighter with each passing year.

1. Walkability and Connectivity:

Pedestrian-friendly neighborhoods are not just charming; they're also magnets for homebuyers. Imagine a place where you can ditch the car and walk to your local coffee shop, grocery store, or park. This convenience and connection to the community are highly sought-after, especially by young professionals and families. Look for neighborhoods with sidewalks, bike lanes, and a mix of businesses and residences within walking distance.

2. Green Spaces and Outdoor Recreation:

Nature is a powerful draw, and neighborhoods with ample green spaces tend to appreciate faster. Parks, community gardens, and access to natural areas like rivers or forests offer residents a breath of fresh air and a chance to connect with nature. These green havens also contribute to a healthier lifestyle and a stronger sense of community, further boosting the neighborhood's appeal.

3. Strong School Systems and Educational Opportunities:

For families, quality education is a top priority. Neighborhoods with excellent public schools or easy access to private institutions are always in high demand. A strong educational system not only benefits current residents but also attracts families seeking a bright future for their children, driving up property values in the long run.

4. Architectural Charm and Historical Significance:

Homes with character and history have a timeless appeal. Neighborhoods featuring well-preserved architectural styles, be it Victorian, Craftsman, or Art Deco, exude a unique charm that attracts buyers seeking a sense of place and belonging. These areas often benefit from protective measures like historic preservation societies, ensuring the architectural integrity and value of the homes.

5. Investment in Infrastructure and Public Services:

A well-maintained neighborhood with reliable infrastructure and readily available public services is a gold mine. Think clean streets, efficient public transportation, a modern library, and a vibrant community center. These investments demonstrate a commitment to the neighborhood's well-being and attract residents who value quality of life.

Remember, location isn't everything. While a trendy downtown location might guarantee immediate appreciation, it may not offer the long-term stability and charm of a neighborhood with these inherent qualities. By prioritizing walkability, green spaces, strong schools, architectural character, and infrastructure investment, you're choosing a neighborhood poised for steady and sustainable appreciation, making your investment truly shine.

Bonus Tip

Research local development plans and initiatives. Neighborhoods undergoing revitalization projects or attracting new businesses often experience significant growth and appreciation.

So, ditch the cookie-cutter suburbs and seek out neighborhoods with these hidden gems. You might just stumble upon the next big thing, securing not just a lovely place to live, but also a smart investment for the future. Happy house hunting!

This post is written based on general information. The value of lands, houses, any properties can fluctuate with external, internal, minor or major factors as well. So, if you are not confident whether long-term or short-term appreciation is expected in the neighborhood you are trying to buy your property, seek for advice from your agent.

Your agent is standing with you for your the best interests.