Adjacent Properties Can Affect Value

When you are shopping for a home to buy, do not ignore the properties that surround it.  They can have an enormous impact on the value of your future home when you decide to sell.  Here are some things to consider:

 

 

Equal or Greater Value  It is always wise to buy a house surrounded by homes that are of similar or greater value.  They will help pull the value of your house up in the years to come.  If, on the other hand, you had more money invested than your neighbors, you would have a tougher time maximizing your potential profit.

Vacant Lots  Use caution when buying a house next to a vacant lot.  You never know what kind of structure will be built on the lot and how it will affect the value and enjoyment of your property.

Condition  If an adjacent house is in poor condition, don’t assume that it will be fixed before you decide to sell.