Once you’ve settled into a new home, you’ll know how much equity you have as the home is worth what you paid to purchase it. As time goes on, the value of your property can change for a variety of reasons. There are large scale changes, like development in the area, that you may not be able to control. But many of the changes that may occur in a typical neighborhood can be influenced through local activism, volunteering and community involvement.
Keep an eye out for these changes to your local area, that may directly influence your property value…
New Commercial Developments
If you live in a suburb or rural area with little shopping nearby, the added convenience of a new supermarket, movie theater or chain restaurant close to your home is likely to raise your property values. These kinds of commercial developments can also bring increased traffic headaches as more people come to visit, which can be a drawback if you prefer living remotely.
Good schools make a neighborhood more desirable for buyers, which helps to raise everyone in the area’s property values. If your child or grandchild goes to the local school, volunteering to help with extracurricular programs or getting involved in the PTA can help improve the overall ratings. Community help and support is vital to a school’s success, and if everyone in the area pitches in, each person only must do a little to make a big difference. If you can’t volunteer during the day, some of the ways you can help might include:
- Help plant a vegetable garden or improve the landscaping on school grounds
- Participate in school activities held on the weekend or after school, like clubs or sports tournaments
- Assist in getting prizes from local businesses for school auctions or raffles
Parks and Amenities
Added investment from local government in your area can help your property appreciate. Upgraded parks, splash pads, community centers and libraries are great resources, and if they are within walking distance of your home, even better. Petitioning local government to get these resources put into your community, or put money into improving the existing ones, can be an effective way to make change happen faster. Old fashioned grassroots activism, like collecting signatures for a petition or organizing a group of residents to attend local government meetings, can make a difference in this arena.
If you’re looking for a new home in the Orlando area, contact the Core Group today. Our team is here to help you find the perfect property to call home.