Increase Your Home’s Value: Buy In The Right Neighborhood!

Bobby Fenner, Lic. in VA
Bobby Fenner, Lic. in VA
Published on March 22, 2017

When you’re looking for a home in Coastal Norfolk, VA or Portsmouth, VA certain factors may be on the top of your list  — be they large walk-in closets, a gourmet kitchen, or a private backyard. But beyond the details of the house itself, your potential new abode’s neighborhood will most likely be high on your list (location, location, location!).

Maybe it’s the neighborhood pool, the biking trails, or workability to the elementary school or grocery store. Maybe it’s the overall curb appeal of the community. (Who doesn’t want their neighborhood’s entrance bursting with inviting, colorful flowers and shrubs?) 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.

Workability

It seems as if we either drive or use public transportation to go everywhere these days. But the truth is, it would be great if we were able to walk out your front door and go down the street to the local grocery store or coffee shop that not only appeals to likely homebuyers but also drastically increase your resale value.

Whether you’re a youthful, city professional or a baby boomer, many homeowners want to be able to walk or bike to local restaurants, bars, grocery stores, banking, and much more, if a new restaurant opens in a walkable area that could increase the value of that home. This is particularly important in urban areas such as Norfolk and Portsmouth.

Services

Who wouldn’t want a free pool? “Homeowners love neighborhood amenities,” says Pauly. “Typically, new-home communities offer pools, fitness facilities, parks and play areas, and security and gates.” Amenities such as tennis courts, walking and biking trails, and dog parks do incredible things to boost a home’s resale value — especially for families looking to buy.

“We’re seeing increased interest in neighborhoods with amenities that rival a resort: workout facilities, pools, playgrounds,” says Sharon Voss, president of the Orlando Regional Realtor Association. “Here in Florida, sports fields, biking and walking trails, and multifunction green spaces are utilized year-round and highly valued.”

Historic Charm

The historic character of a neighborhood is likely to boast resale value, as it is a quality that is hard to duplicate.  Very often, historically designated districts will seek to preserve a certain level of consistency and have community boards to help conserve the neighborhood aesthetic, which in turn will help protect values.

Irreplaceable Homes

Not all homebuyers wants to select from the 3 or 4 models the builder offers — and only those 3 or 4 models — which is why subdivisions that offers the #homebuyer the option of semicustom or custom homes may sometimes have a better resale value than those that don’t.

Neighborhoods with custom designed and semicustom built homes, contrasted to production homes, are likely to show greater increases in home value over time. More smart homebuyers prefer homes with distinctive character which add to the overall charm of the community and are more likely to remain in their homes longer, creating more stability in the neighborhood.

Area Schools

It almost goes without saying that if a neighborhood is located in a highly desirable school district, it instantly increase a home’s resale value. If a home is in a quality school district, those neighborhoods are likely to not only maintain their value, but increase as well. There will always be a lot of parents who want their children going to great schools.

Bobby Fenner  is a Full Time Realtor with over 30 years experience in the Virginia, Maryland and Washington, D.C. Real Estate Markets. He and his team of Real Estate Pros offer the highest level of service.  If you’re buying or selling a Coastal Virginia home, call (757) 439-5779 or email [email protected] We’ll be happy to assist you in your move.

When You Use Our Team, You Could Qualify For a $450 Home Warranty Gift Card! 


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Increase Your Home’s Value: Buy In The Right Neighborhood!
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