What increases the value of your neighbourhood?

Posted by Gurpreet Ghatehora on Saturday, April 11th, 2015 at 10:33am.

There are many things that can have a positive, or negative, impact on both the value of the homes in your area, and the desirability of your neighbourhood. Here are a few of the things that can increase value and desirability.

1. Walkability

The more accessible a neighbourhood is on foot, the more people will want to live there. This means groomed walking trails that link the neighbourhood and its amenities together.

2. Green space

Having lots of open grassy areas, play parks, dog parks and trees in a neighbourhood is important. Not only does it make the area more beautiful, but it attracts a wide variety of people. People want to live in pretty places, and having lots of accessible outdoor recreational areas is a part of that.

3. Accessibility

Access to transportation in important. Not everyone drives, so having train stations or bus stops close by will impact how livable an area really is. On the other side of this, the actual layout of the neighbourhood is also important. Street designs that minimize traffic are desirable because they are safer for children and produce less noise. An example of this might be an area that consists primarily of cul de sacs.

4. Proximity of amenities

No one wants to live across the street from a strip mall, but they do want to have necessities close at hand. Being within a five minute drive to a grocery store, gas station and hospital are all contributing factors for how desirable an area is. Being walking distance to things like schools, churches and community centres is also a plus.
There are many contributing factors in your neighbourhood that could drive the price of your home up. On the other hand, there are things that can devalue it too.

Leave a Comment