Location, Location, Location
One of the most important parts of a home’s value is its location. After all, that’s the one thing you can’t change. When valuing your home, it’s important to consider your city’s home market and ask yourself the following questions:
- Is the local economy growing?
- Are people moving there from other towns?
- Do homes sell quickly?
- Is the city expanding its borders?
- How livable is the city?
Your local neighborhood is just as important to your home’s value:
- Is it an older neighborhood or a more recent development?
- Who lives there? Are most households families? Singles? Couples? Retirees?
- Is it convenient to main roads?
- What are the schools like?
- Is the neighborhood safe?
- Who provides the utilities in this area? How’s the service?
- Are the streets in good repair? What’s the traffic situation?