The Ways Your Neighborhood Increases The Value Of Your Home

The neighborhood you live in has just as much to do with the value of your home as the features of the house itself. The right amenities in a community can increase the value of your home significantly. Read on to find out the most desirable features of any area.

Places To Walk

Whether it’s immaculate sidewalks, hiking trail, or parks, anywhere that you can be outdoors and walk easily increases the value of the nearby homes. This is because it’s great for families to get out, get some exercise, and not have to go very far. This feature can bring in anywhere from a few hundred to over a thousand dollars above your home’s asking price.  

Trees

We often take trees for granted, but trees that have grown up around a property can add some value to the home. Think of it in the context of, however natural a neighborhood is, the higher the value of the homes in it. Before you think about cutting down any trees around your house, consider the fact that grown trees can increase the cost of a home by up to 5%!

History

Neighborhoods that are surrounded by historic districts, landmark homes, or other places of historical interest have the higher value. For one, these are usually walkable neighborhoods. Second, your area has a story unlike any other. It’s a fun place to get out and explore. All homes in these historic districts aren’t ancient; you can find some newer construction homes in these areas, which means that there’s truly something for everyone! 

Dog Friendly

A dog-friendly neighborhood is a valuable neighborhood. People love places that they can take their dogs like dog parks. This especially holds true in the city where yard space is limited. Even better is a neighborhood where dogs can be seen in restaurants and coffee shops. If you can drive around the block and see people walking dogs everywhere, it’s a good bet that it’s dog-friendly! People love their pets and want them to be a part of the family, so they need to live in a place that allows them to do that. 

All The Essentials

If your neighborhood is near all of the essential things that people need on a daily basis, your home’s value may increase. Places like grocery stores, pharmacies, shopping malls, hospitals, and safety support services all play a role in improving the value of homes in a neighborhood.

A Sense Of Community

If a neighborhood has community groups, a neighborhood watch, or other organizations that help to bring about a community feel, your home may be a bit more valuable than you think it is.   

Best Practices for Pricing Your Home

Before you list your house, you’ll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.

Now, let’s take a look at three best practices for pricing your home.

1. Evaluate the Real Estate Market

The current real estate market’s conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer’s and seller’s market and plan accordingly.

In a buyer’s market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.

On the other hand, a seller’s market favors home sellers over homebuyers. If you’re operating in a seller’s market, you may be better equipped than ever before to earn a significant profit.

To differentiate between a buyer’s and seller’s market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.

2. Conduct a Home Appraisal

Ultimately, a home appraisal can make a world of difference for any home seller, at any time.

During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.

A home appraisal involves an evaluation of the current condition of your home, your house’s age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.

3. Collaborate with a Real Estate Agent

When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.

A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.

Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.

Early Warnings: Signs of Electrical Issues

 

The first few years in your new home feel like heaven. Everything looks so sleek and shiny, but after some time you start to discover some quirks. Most are nothing to fret about, but there are some signs that pop up that shouldn’t be overlooked, such as electrical glitches in the home. Not every electrical problem is dire, but as your home electrical system may pose a high risk of fire and severe damage to life and properties, you should be cautious.

Circuit Breaker Issues

The job of the circuit breaker is to cut off the flow of electricity to a part of the home when the circuit gets overloaded. It’s a crucial part of maintaining the safety of your home’s electrical system. This level of importance makes it highly critical that you call for a professional electrician if it seems like the panel is faulty. In a situation where the circuits in the breaker panel fail to reset or continuously trip after being reset, then it’s a clear sign that something is not right with your home electrical system: don’t hesitate to call for a repair.

Flickering Lights

This is usually a sign that there might be a short circuit in your home. However, if only a single light is flickering, it might be an issue with the bulb. Unplug it and check if it will flicker when plugged into another outlet. If you notice more than one light or all the lights are flickering, call an electrician to inspect the system. Lights flickering shouldn’t be neglected because short circuits in the walls may spark house fires. Be sure to have your wiring inspected often and fixed, should any issues arise.

Burning Smell

This one is pretty obvious, but many homeowners assume the smell is related to something else. Slices of bread trapped in the toaster or a dish left in the oven for too long can cause a burning smell. However, if you still perceive the smell when you are not cooking or using any kitchen appliances, your electrical system may be faulty. Burning smells can also be a result of loose connections or current flowing through deteriorating plugs, switches and cords. Call an electrician whenever you catch a burning smell in your home that’s not related to cooked or cooking food.

Whenever you see any spark, catch a non-food related burning smell or see your lights flickering, contact an electrician immediately. Don’t have an electrician you trust? Your real estate professional will have connections to the best professionals in your area. Use them as your top resource.

What is Multi-Generational Living?

Photo by Craig Adderley from Pexels

Housing design has undergone significant changes in the past few decades, with open concepts and flexible living arrangements quickly taking over. Such designs reflect, in part, the increased prevalence of multi-generational families, in which family members of all ages live together.

Why Today’s Residents Love Multi-Generational Arrangements

During the Great Recession, the rise of multi-generational living largely stemmed from financial concerns. For years, young adults simply couldn’t afford to move out. That has since changed, with low unemployment rates and a fast-paced housing market encouraging young buyers to invest in condominiums, townhouses, and single-family homes.

Despite recent housing developments, many young people still prefer to reside with close family members for purposes of convenience or family togetherness. This is particularly prominent in communities in which cultural norms dictate that young adults will continue to live with their elders long after they have completed their schooling, secured jobs, and even established long-term relationships or had children of their own. The close connections fostered by multi-generational arrangements are not nearly as easy to replicate elsewhere.

What to Look For in Multi-Generational Homes

There’s a lot to love about multi-generational living, but such arrangements can feel stifling in the wrong setting. Some houses simply aren’t designed to accommodate anything beyond the nuclear family. Thankfully, creative construction is on the rise, with flexible solutions available to help families make the most of once unconventional setups. Key features worth seeking include:

The Opportunity for Privacy

Young adults often venture out on their own simply because they lack privacy. The right structures, however, can resolve this issue by emphasizing private spaces. For example, instead of including one master bedroom and several smaller rooms, such homes may feature multiple master bedrooms. Suites that resemble mini-apartments are even better, as they allow residents to spend entire days in private spaces if desired.

Plenty of Communal Spaces

While privacy is critical in multi-generational homes, communal spaces are just as important. Families should enjoy the opportunity to regularly spend time together. Communal dining spaces, in particular, make it easy to build close connections in a festive atmosphere. Open concept communal spaces are especially popular, as they provide an open feel while also offering flexible space that can be adapted to accommodate evolving needs.

Addressing the Concerns of Several Age Groups

Today, the very homes that require extensive baby-proofing may also need accessible features that enhance mobility for seniors. While not necessarily incompatible, these considerations can be difficult to incorporate in the same space. Universal design principles such as level-entry showers and single-story homes make life easier for residents of all ages.

Today’s diverse families and housing preferences call for a broader range of housing options. Cleverly designed multi-generational homes provide an excellent opportunity to accommodate a close-knit and valuable living arrangement that will only continue to grow in prevalence in years to come.