Deciding where to plant your roots is just as important as selecting the structure you will call home. Whether you realize it, or not, when you buy a house, you also buy a piece of the Denver neighborhood. Choose a neighborhood that is going to increase in value to ensure that your house will appreciate. A little extra thought should go into selecting a perfect Denver neighborhood, if you want to feel confident that your home’s value won’t decrease over the years. Here are a few questions you should be asking.
Where do the Rich People Live?
A house in the area’s most affluent Denver neighborhood may not be in your budget, but that doesn’t mean the surrounding neighborhoods should be ruled out, as well. You may find that Denver neighborhoods you assumed were out of your budget actually have homes in your price range because they are “suburbs” to the richest area.
How is the School District?
Buying a home zoned for an under-performing school district is a huge mistake. You may not have kids, but school district is the first thing buyers look at with children. So, when you are ready to sell, you may limit your target audience to single home buyers.
Is There a Neighborhood Starbucks?
Being close to a Starbucks offers more advantages than just being a convenient place to stop for your morning caffeine fix. Homes adjacent to Starbucks locations tend to double in value, up to 96 percent. There are 17 years of data to prove this!
What is the Crime Rate Like?
If you move near the wealthy and you select a top school district there is a very good chance the area will have extremely low crime rate. Police response tends to be fastest in these areas. If you want to be sure the crime rate is as low as you assume it is, you can always stop in the police station and ask.
Is the Area Walkable or Near Public Transportation?
Walkability rating may not be a big deal to you, but it is becoming increasingly important to homebuyers. Close proximity to public transportation is especially important in bustling downtown areas where no one likes to drive.
You buy a home based on feelings, but you select a neighborhood based on facts. Think through your decision to make sure you are choosing the area for the right reasons. Are you interested in a Denver neighborhood because there is a house there you really like or because you are fairly confident it is an area where your home’s value will increase through the years?