How to Value a Neighborhood - Real Estate Investing

When looking at a neighborhood in real estate investment, there are several things that you'll want to consider because the neighborhood a house is in will affect its value. You have to take several things into consideration when it comes to neighborhood.

Condition of Other Houses

Regardless of how nice the house looks that you are considering buying, you have to look at the houses around it as well. Are all of the other homes run down and need repairs? If the neighbor's house looks like they never mow the yard and there is junk all over the yard, you might want to reconsider buying the house. An appraiser will establish the value of your home, based on their values. If the homes are not well maintained or valuable, your home will not be either.

Proximity to Amenities

If you want your rental property to be successful you have to make sure that you invest in an area that is near amenities. The house needs to be reasonably close to the things that a normal person needs to live. Check the proximity to the nearest grocery store, schools, parks, churches, public transportation and anything else that you think people might like. If you can, avoid buying property that is not near anything desirable.

 

blog comments powered by Disqus