Home & Garden 8 Neighborhood Features That Increase Your Home Value

19:07  21 april  2017
19:07  21 april  2017 Source:   Trulia

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But what sold her and her partner wasn’t the home ’s square footage. Instead, it was the interesting neighborhood around it. From this house, she could walk to “a narrow street of small boutique businesses, a wine bar, a martini shop, a cigar bar,” and more.

But some neighborhood features are so attractive to buyers that they can increase your home 's value too. Here are eight neighborhood and community amenities you shouldn't overlook.

property values in my neighborhood © Trulia property values in my neighborhood

It’s a good bet that certain home upgrades — the kitchen and master bathroom in particular — will increase the value of your home. But some neighborhood features are so attractive to buyers that they can increase your home’s value too. Here are eight neighborhood and community amenities you shouldn’t overlook.

  8 Neighborhood Features That Increase Your Home Value You Live in a Hot Market ... Should You Buy or Sell?

1. Hiking trails

Hiking can give you a decent cardio workout while you enjoy the great outdoors. So neighborhoods with access to hiking trails are bound to score some bonus points with house hunters. That’s how homeowner Megan Wild feels about the trails in her Carlisle, PA, neighborhood. The main trail in Wild’s neighborhood is 1.5 miles long, and she walks it frequently. “It’s fairly manageable for kids, and almost everyone with a dog walks up there,” she says, adding that it’s a “secret” perk for locals, since it’s not promoted outside the neighborhood. And it’s an amenity she appreciates. “I would value it at an additional $500 to $1,000 to a home’s sales price.”

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It's a good bet that certain home upgrades — the kitchen and master bathroom in particular — will increase the value of your home .

8 Neighborhood Features That Increase Your Home Value . We can help with your home search. Receive weekly news, advice, listings, and neighborhood info by email. * A valid email address is required.

2. Mature trees

Developers sometimes cut down large, healthy trees since it’s often easier to do that — and plant new trees — than to preserve them. But those desirable, well-established neighborhoods buyers love often have a thriving, lush tree canopy. The shade and character offered by older trees can add more than just aesthetics. “The more natural a neighborhood is — regarding trees — the higher the neighborhood value is,” says Sacha Ferrandi, founder of Source Capital Funding, a California-based direct lending company. But just how much value? Ferrandi cites a survey from the University of Washington that found that, on average, “trees in one’s front yard add 3% to 5% to the home value, and in high-income areas, neighborhood trees can increase the area’s value by up to 15%,” says Ferrandi.

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But some neighborhood features are so attractive to buyers that they can increase your home ’s value too. Please use a supported version for the best MSN experience. 8 Neighborhood Features That Increase Your Home Value .

8 Neighborhood Features That Increase Your Home Value . Increase your kitchen's appeal - and your home 's value - with these 7 inexpensive kitchen upgrades, ranging from fresh paint to updates in equipment.

3. Walkability

All homebuyer Marcia Noyes wanted to find on her home search in New Braunfels, TX, was a cottage with a front porch on a small lot. After much searching — and lots of eliminating the too-large homes she came across — she found a cozy home on Trulia she loved. But what sold her and her partner wasn’t the home’s square footage. Instead, it was the interesting neighborhood around it. From this house, she could walk to “a narrow street of small boutique businesses, a wine bar, a martini shop, a cigar bar,” and more. “All the parking is behind the businesses, so you feel like it’s a quaint German or European village,” says Noyes. “It truly is the most special place.” Realizing she’d found the perfect home, she offered cash and closed on the house in eight days. “I would have paid whatever was asked to move into this place,” she says.

4. Historic homes

Historic districts typically ooze character and charm, and are often located in walkable communities. They practically invite you to get out and explore your surroundings and learn about your neighborhood’s story. Even better, historic homes also tend to increase in value more quickly than the overall local market, according to the National Trust for Historic Preservation. Concerned about the maintenance or upkeep a historic home needs? Look for a new-construction home in a historic area.

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8 Neighborhood Features That Increase Your Home Value . Apr 12, 2017. It’s a good bet that certain home upgrades — the kitchen and master bathroom in particular — will increase the value of your home .

Here’s a list of the neighborhood features that not only satisfy your home -buying checklist but also boost your resale and property value in the future. “If a new restaurant opens in a desirable, walkable neighborhood , that could increase the value of that property.”

5. Dog parks

Buyers like to purchase homes in neighborhoods with parks and green space, and will often spend more to live in communities that offer them. But Americans are also spending more money than ever on their pets, and of those households, the majority are dog owners, according to the American Pet Products Association. That can make neighborhood pet amenities like dog parks and walking trails even more desirable — even increasing nearby home values. A clean dog park with plenty of well-trained pets enjoying it can make a neighborhood look and feel friendlier. “Dog parks are a huge draw, especially in urban or urban core neighborhoods where houses may have small or no yards,” says Jake Knight, a California real estate investor.

6. Retail and essentials nearby

Whether you live in an urban or rural area, convenient access to essential services and shopping is key. And it’s a factor home appraisers consider when evaluating real estate values. “Within the neighborhood, homeowners should have easy access to retail services, preferably in larger retail centers with grocery anchor tenants, numerous bank branches, and a variety of restaurants,” says Greg Stephens, chief appraiser for Metro-West Appraisal Co., a national real estate appraisal company that operates out of Detroit, MI. “Police and fire support should be local and visible,” he adds.

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A neighborhood 's offerings can significantly increase home values . If you're in the market for property, keep your eye out for these 16 neighborhood features that add value to your home .

Neighborhood gets together for annual cleanup. Pine Bluff Neighborhood Watch Groups to meet. Kids ‘get back’ at Rock Hill Neighborhood Watch by ‘egging’ home , report says. 8 Neighborhood Features That Increase Your Home Value .

7. Future amenities

Find out what upgrades your city has in store by looking online for planning documents. They should reveal what improvements are planned and when they’re scheduled to be completed. You could also call city hall to ask about future growth. Maybe there’s a streetscaping plan in the works or new amenities planned for the area, or maybe you’ll find that desirable retailers such as Trader Joe’s, Whole Foods, or Target are on the way, which could further boost home values once the stores are well-established.

8. Organized community groups

You might have heard the phrase “It takes a village to raise a child.” It also takes a “village” or group of active participants to keep up or improve a neighborhood. Strong community support can provide valuable neighborhood vision (and oversight), which in turn attracts buyers. “Neighborhood watch is huge, especially in neighborhoods with families and children,” says Stephens. “Keeping-the-neighborhood-clean programs also enhance the desirability of properties within the neighborhood, which equates to market demand and favorable sales prices,” he adds. And although abiding by your neighborhood homeowners association’s rules might feel limiting sometimes, a good HOA will help maintain and enhance the value of your property.

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Increasing the value of your home is easier than you think. Follow these tips, and your home will be worth more before you know it. By adding curb appeal to your entire neighborhood , you will all boost your home values .

Follow these 10 steps to increase the value of your home for potential future sell. See who wants to go in on a few flats of border flowers. By adding curb appeal to your entire neighborhood , you will all boost your home values .

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The post 8 Neighborhood Features That Increase Your Home Value appeared first on Trulia's Blog.

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