Should You Sell Before Your Home Loses Value?

by David Sanders 07/07/2019

You bought your dream home, raised your family there, you thought it was a forever home. But now, you notice newer neighborhoods popping up with common areas and shared amenities, and you wonder if you should sell before your home loses its value and the neighborhood slides into obscurity.

Or, you’ve inherited a home in an older neighborhood and wonder if you should keep it or sell it. How do you know when a community is losing its appeal or is on the verge of trending upward?

Affordability

Two questions to ask are: is it affordable? And is it attractive? As long as a neighborhood is accessible—taxes aren’t too high, market value is reasonable—then people will continue to move into homes there. Additionally, if it remains attractive—there are parks and shopping nearby, with good schools, and well-maintained roads and infrastructure—new families will want to live there.

Livability

More critical than affordability and attraction is livability. That is, can young families make community connections there? Do they see themselves raising a family there? If all the other occupants of homes in the neighborhood are over fifty, the livability for young families is low. As those homes transition from older occupants to younger ones, livability rises, and the area retains its stability. 

Looking for at least a few of these signs of livability for young families will give you an idea if the neighborhood is emerging as a newest, hip area or if there is cause for concern. One of those signs is crime rate—if crime increases, livability decreases. Another sign is convenience—proximity to jobs and entertainment increases both the attractiveness and the livability of a community. Medical, dental, and other necessary services moving into an area indicate an upward trend, as does the appearance of retailers, restaurants, and coffee shops nearby. Public transportation becomes more important to younger occupants. Millennials often prefer walkable areas with easy access to a bus, tram, or train system. 

History

Add to these signs a street of homes with architectural interest or historical significance and you can likely expect a renaissance among the fixer-upper crowd. The renovation and remodel trends tend to revitalize mature districts that attract younger buyers.

To better understand if your property is on the cusp of trending up, ask your local real estate professional. They’re aware of shifts in demographics and when an area is on the verge of being a hot new market.

About the Author
Author

David Sanders

Sanders Properties’ primary business aim is to provide each of you – our customers – with a complete host of personal services that simplify the buying process and ease the tension in buying a home. We do it by insuring all the essential information and all support service for buying a home are right at your fingertips. It’s our unique one stop shopping service, consisting of our seasoned real estate sales agents, who live in the county and know every nuance of every neighborhood; plus a consortium of top flight, cost efficient inspection engineers, legal professionals and mortgage brokers. And, if carpenters, electricians or painters are needed, we got them, too. Whatever you need, it’s here! Personal Service makes all the difference. It’s what makes you a satisfied home buyer. It’s what makes David Sanders the No. 1 Sales Agent in lower Rockland County. SandersHomes.com is synonymous with Rockland County homes, Hudson River homes, luxury homes, Palisades homes, Piermont homes,Grand View homes, Haverstraw homes, South Nyack homes, Nyack homes, Upper Nyack homes, Upper Grandview homes, Snedens Landing homes, Stony Point homes, Tappan homes, Orangetown homes, Clarkstown homes. You just might say, homes are us! Sanders Homes Real Estate is the premier realtor in Nyack NY, offering you complete access to all Rockland County homes for sale. Whether you’re looking for a simple Cape or a Hudson River estate, we can help you find the house that’s right for you. Our experienced, informed sales agents are waiting to open the right doors for you. So, when you need the right Nyack realtor to help you find the right Rockland County home, come to Sanders Homes Real Estate, we’re conveniently located in the heart of Nyack’s business center. Yes, come and discover, first-hand, our hallmarks: Integrity Trust Service Sales SERVING YOU. It’s our greatest privilege