The most important characteristic when determining the value of real estate continues to prevail – location, location, location! When you decide where to live, you are not only choosing a home, you are buying into a neighborhood. A community’s physical and social qualities have a major impact on the market value of the house, the desirability of the neighborhood and the lifestyle of its residents.

A neighborhood can be every bit as important as the dwelling itself. The National Association of REALTORS conducted a survey of home buyers between July 2013-June 2014 and found that the top influential characteristics in selecting a home were:

• Quality of the neighborhood
• Convenience to job – Commuting costs are a key factor in neighborhood selection.
• Overall affordability of homes – Your real estate agent can inform you of price appreciation tends in order to give you an idea of how solid your investment is or will be. Visit the local government planning agency to ask about future developments such as new roadways, commercial construction and housing developments that may affect values.
• Convenient to friends/family – With limited time and money, people prefer to live near the places they frequent as well as have access to public transportation.
• Convenient to shopping
• Quality of school district – Local school that are recognized for their excellence help add value to surrounding neighborhoods and are an important selling point for homes on the market. Details such as test scores, class size, special programs and the percentage of students who go on to college can be provided upon request from the school district.
• Design of neighborhood

Jerry Raviol, Associate Broker
West USA Realty
www.houseaz.com
602-695-5478

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