Neighborhood Amenities Map Shows More Ways A Home Is A Good Investment
There’s more to a home than bedrooms and baths and a neighborhood amenities map can point out the extra value.
In every neighborhood, there are always at least a couple houses with bonus features that could be a great asset, but only if the value was uncovered correctly.
When a client is looking to invest in a property, their first instinct may be to look for the cheapest, or most basic house they can find in an area.
But an agent can use a neighborhood amenities map and local real estate data to show them sales and pricing trends which reflect the fact that certain features just make better selling points.
Here are some examples.
Neighborhood amenities map adds extra value
A new home owner who works in town may not care about commuting to a big metro area. But a potential buyer later on sure might.
More and more people, especially Millennials, are seeking employment in urban areas. Commuting will be a big factor for them.
Looking for a home that is within a short driving distance to the major city areas, or close to public transit can turn into major dollars later.
With your local real estate data tools and geocoded map software, show your client the difference in sale prices between a house near the city or bus stop, and a house further out of the way or out in the suburbs.
Real estate market data points out position in marketplace
A single person might not need a 2,000 square foot home, or a statuesque multi-story home. Not only would it be too much extra space, but the excess number of rooms also requires heating, cooling, maintenance, and dusting.
However, your real estate data tools will uncover the number of families moving into the neighborhood who would be excited to find a great property with enough room to grow.
Depending on where you are, you may also be able to show a growing population of retiring “baby boomers” who will pay top dollar for a single-story house that they can get around easily. Check the neighborhood demographics. Perhaps this is an area that attracts older residents.
Middle-aged home buyers might also be more comfortable knowing there are people their own age in the community.
A home value tool can also point out how a home is positioned in the market in terms of Size, Age, Price per Square Foot and Price. Maybe an owner with a big home that is relatively new should be looking at asking for a higher price. Words every seller loves to hear.
School data can do the selling for you
It would be impossible to talk about features that make good real estate investments without mentioning highly-rated schools.
Even if the buyers don’t have school age children, there are advantages to showing them the advantages of being located near a top-notch school.
Properties in the best school zones are hot commodities, as research shows parents moving into the area will pay top dollar to get their kids near their best chance at a good education.
Your local real estate boundary tools will show those important school attendance zones pointing out the schools that children will be attending.
Perhaps the school is average. It’s always possible with a change in principals or other personnel that it could be a hot school in the future.
Either way, being located near a school is huge. Parents will pay as much as 20% more to be located near one.
Point them out on your neighborhood amenities map.
Opportunities near desirable neighborhoods
While some buyers may automatically pass up listings in a hot neighborhood due to pricing, your real estate data tools may be able to show a property in the area nearby that needs some work – and provide an estimate of how a renovated home may reach the price range of other homes and be a nice increase in value.
Some buyers who are looking in the trendier neighborhoods aren’t the DIY type, leaving a potential gold mine sitting on the market waiting for a handy home owner to see all of its possibilities.
According to some, building unique features into a home isn’t a great idea because not everyone will be interested in a home theater, six-car garage, pool, or pizza oven.
However, your real estate data tools will show the higher price range of homes with a little something extra. An investor, who is willing to wait a little longer for the perfect buyer to fall in love, could potentially see a big profit!
Everyone has a different opinion when it comes to good neighborhoods, good schools, and desirable home amenities.
But with your neighborhood amenities map and real estate market data, you can point out some very appealing opportunities to potential buyers.