by Kate Sutton
Buying a home is the most significant investment most will make in their lifetime. When deciding on where you want to buy, as well as general market conditions, here are some other considerations that weigh into whether a property’s value will escalate over time.
- Can value be through cosmetic upgrades or renovation? Is it possible to add square footage?
- Is the quality of the neighborhood heading up or heading down?
- Could a future project affect the value of your home? For example; Is a Whole Foods Market potentially coming? A large employer? A major City landscape project? A new Park or School?
- Buying in a good school district can provide a security blanket to maintain future value.
- If you are buying into a development/condominium, can you initiate improvements of the common areas and amenities by being active on the board?
- Is there room to landscape? Sometimes even adding a tree or a small amount of landscaping in front of a home can enhance the all-important “curb appeal.”
- Getting in early on a new home or condominium developments in a gentrifying neighborhood can create value over the long term. Just look at Playa Vista!
Good luck, it’s a jungle out there!
Kate Sutton is a local real estate agent with Compass. If you are thinking of buying or selling, or need any real estate advice contact Kate. Kate.Sutton@Compass.com or 310.500.7793