5 Signs You Live in a Bad Neighborhood and Should Consider Selling Part 1
If you own a home, you know that the location is a key element to selling your home the traditional way. You can have a beautiful, well-built house, but if it’s in the middle of an undesirable neighborhood, chances are that you will not get a fair offer for the home.
In this two-part article, the professionals that buy houses for cash in Raleigh, NC, will discuss five signs that your neighborhood may impact the selling price of your home. Remember, if you are looking to sell your home fast, Real Estate Solutions Providers can evaluate your home and offer you a fair price.
1. What Do the Other Homes Look Like?
One of the easiest ways to know whether or not your neighborhood has experienced a depreciation in value is to look around at the other homes located in your community. Do the homes have foundation problems or are there even burned-down homes? What about functional but undesirable homes? These are the homes that could use a fresh coat of paint, need a new roof, have broken gutters, unkempt lawns, or need to be pressure washed. Another indicator of a struggling neighborhood is if there is a high percentage of homes being rented. If your house is damaged, and you still have the best house on the block by far, this is never a good thing.
2. Are Your Neighbors Going to Great Lengths to Secure Their Home?
When you’re evaluating your neighbor’s homes, you should also note if these homeowners or renters are going to great lengths to secure their home. For example, are there bars on the windows or doors? Are there chain link fences guarding the perimeter? Are there padlocks located on various areas of the premises? As you can imagine, if your neighbors are being very protective of their home, you should consider doing the same or selling fast.
3. What are the Nearby Businesses Like?
A huge aspect of a community are the nearby businesses. It’s important to analyze the businesses that surround your home. For example, hole-in-the-wall bars, tattoo parlors, late night fast food restaurants, pawn shops, payday loan stores, or empty storefronts are all signs that you may live in a less-than-thriving area of town. If you feel that the area’s offerings are substandard, it may be best to move on from your property.
For more information on signs that you live in a bad neighborhood, please read the second part of this article.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.