We all know the three key factors in real estate: Location, Location, Location. Maybe it is an over-simplified axiom, but it is still relevant today. But what variables affect home price? Here are some of the major ones that affect locational home value:
- On a cul-de-sac vs. drive thru street
- On a busy vs. quiet street
- Gated vs. non-gated community
- Views of ocean, lake, or mountains vs. buildings, industrial, etc.
- The School Boundary in which it lies (will go up or down based on desirability of school)
- Walkability to outdoor activities, stores, restaurants, and businesses
- Lies within a Natural Hazard Zone (Fire, Flood, etc.)
- Known area to negatively affect value (such as soil settlement issues, nearby or in a commercial zone, under a flight path, near active train tracks, etc)
- Stage of neighborhood life cycle (Growth, Stability, Decline, or Renewal)
These are some key aspects to pay attention to and let guide your decision-making when searching for a long-term home.
Chris Chin |Broker & Owner
DRE 01882756 | SeasideRealtyVC.com
830 E. Santa Clara St. Ventura, CA 93001
Cell 805.258.2870 Fax 805.856.1583