We always speak about the great things we can do to improve the value of our homes but often forget that there are things that can hurt our home’s value. Sometimes it can be the very thing that we think is boosting our home value that can hurt us, such as location, here are 4 ways your location can hurt your home value.
Schools in your neighbourhood is an easy way to boost your home’s value because it is important to have a school close to home for your kids to attend. They can also be a nuisance, schools bring school buses, slowed traffic, and a lot of extra pedestrians. Hopefully, you leave early enough for work.
When you drive a lot it is a great convenience to be next to the freeway, especially when you need to travel across the city. Highways also bring a lot of extra traffic to the neighbourhood and noise from cars driving by at all hours of the night.
3. Shopping Centers
Living close to shopping centers are a great convenience and of course can even shoot up your property value, but once again this is something that brings extra traffic into your neighborhood. You also want to make sure these shopping centers have great retail stores in them and that they are not full of pawn shops or flea markets, which can actually hurt your home’s value.
You never have a great idea of what your neighbours are like until you live next to them for a little bit. They can usually hurt your value if their loud, messy, and mean. There is not much that can be done about it, but they can hurt your home’s value.
As much as these factors can drive up the value of your home, they can also hurt them. Be sure you know what you’re looking for in your home value.