Tag Archives: North Metro Atlanta Homes

Can Living Near A Walmart Increase Your Home Value?

The answer is surprisingly, “yes”!   There was an interesting article on the National Association of Realtors‘ site that I thought I would share.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789

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9 Surprising Things That Add Value to Your House

By: Dona DeZube

A home’s value is dependent on many things. Here are nine factors you might not have thought about.

1. Surf Breaks: Being within a mile of a surf break (a spot where surf-able waves happen) adds about $106,000 to a home’s value, according to surfonomics experts at the Monterey Institute of International Studies.

Reality check: Mother Nature makes surf breaks, so it’s not like you could build your own DIY break to boost your home’s value.

2. Parks and Open Spaces:  A desirable public park or other recreational open space boosts the property value of nearby homes by 8%-20%.  One study looked at 16,400 home sales within 1,500 feet of 193 public parks in Portland, Ore., and found these boosts to home values:

  • Natural areas: $10,648
  • Golf courses: $8,849
  • Specialty parks: $5,657
  • Urban parks: $1,214

Reality check: A park that’s not maintained and overcrowded can drag down nearby home values.

3. Living Near a Walmart: Along with making it easier to run out for a gallon of milk at midnight, researchers at the University of Chicago concluded that living within a mile of a Walmart store could raise your home’s value by 1%-2%, and living within half a mile could boost your property value by an additional 1%.  For an average-size home, that’s an uptick of $4,000-$7,000.

Realty check: What you gain in home value, you may end up spending at Walmart.

4. Solar Photovoltaic Systems: California homes with solar photovoltaic (PV) systems sell for a $17,000 premium over homes without solar systems, according to research from the U.S. Department of Energy’s Lawrence Berkeley National Laboratory.

Reality check: Although costs for residential solar power systems are falling, they’re still rather pricey at $15,000-$40,000, depending on the size of your house.

5. Walkability: Being able to stroll to schools, parks, stores, and restaurants will raise your property value anywhere from $4,000-$34,000, says a 2009 study from CEOs for Cities.

Reality check: The biggest boost in walkability values occurred in large, dense cities.

6. Accessory Dwelling Units:  Whether it’s a granny flat, an in-law apartment, or a carriage house, having a separate unit can increase your home’s value by 25%-34%, according to a study of 14 properties with accessory dwelling units in Portland, Ore. You can also get a steady stream of income from a second unit.

Reality check: Local governments often ban accessory dwelling units, so check zoning laws, building codes, and homeowners association rules before you add a unit.

7. Professional Sports Arenas:  A new pro sports stadium can raise property values in a 2.5-mile radius by an average of $2,214. The closer you are to the new facility, the larger the increase in home value. Researchers from the University of Illinois at Urbana-Champaign and the University of Alberta examined house sales in Columbus, Ohio, before and after the city added two sports stadiums.

Reality check: If a stadium is proposed, home values can decline a bit until the project is complete. And if you live really close to a stadium, you may encounter traffic and parking issues.

8. Community Gardens:  Planting a community garden raises the value of homes within a 1,000-foot radius by 9.4% within five years, according to research by the Office of the Comptroller of the Currency and New York University School of Law.  The impact increases over time, and high-quality community gardens have the greatest positive influence. Poor neighborhoods saw the biggest gains in home values.

Reality check: Gardens on privately owned land and in higher-income neighborhoods don’t have the same beneficial influence.

9. Trees:  No real surprise here — whether trees are in your yard or just on your street, they’re a valuable asset you should be aware of. Here’s a gauge of how much trees are worth to your home value according to a University of Washington research survey:

  • Mature trees anywhere in your yard: 2%.
  • Mature trees on your street: 3%.
  • Trees in your front yard: 3%-5%.
  • Mature trees in high income neighborhoods: 10%-15%.

Reality check: Trees usually mean work — raking leaves, trimming branches, and keeping roots out of sewer lines.

5 Tips for Preparing to Purchase a Home

Whether you are looking toHispanic couple outside home purchase a home for the first time, or you have owned a home in the past, the lending environment has changed and perspective buyers really do need to prepare in advance of their search.   Here are some tips that will make the purchase process a whole lot easier:

1. Make sure you know what’s on your credit report.   Pam Wright, with OnQ Finance wrote a great article on how to check your credit.   You need to get your report early in the process so you can make sure that it is accurate and clear any negative or erroneous information.    It’s free to get your credit report; there’s no need to sign up for services that want to charge you.

2. Get rid of as much debt as possible.   Lenders want to make sure that you are not overextended, and that you pay your debts on time.   The better your payment record, the higher your credit score.  You also need to make sure that once you do start the mortgage process, that you do not take on any new debt.   Here’s another great article from Pam, explaining what not to do.

3. Have cash available for the purchase.    While you may be financing the bulk of your home, you will still need cash for such things as earnest money, inspection/appraisals, HOA fees, utility deposits, moving expenses, etc.   These will be in addition to the down payment.   Your down payment amount can vary, but it would be wise to have at least 20% available for a down payment.

4. Have an idea of where you’d like to live –  This is obviously the more fun part of preparing for a purchase.   If you are looking to purchase in a particular subdivision, I can send you free, no-bother, updates on homes being listed in that neighborhood.    Just click here to sign up, and don’t forget to add the Subdivision name in the Comments section (Georgia subdivisions only please).   You will then receive automatic updates anytime any home is listed, sold, or there is a price change.  If you are looking for new construction in a particular area, let me know as there are new subdivisions coming in the North Metro-Atlanta area.

5. Get pre-approved. There was a time when you went house hunting, put in a bid, and then you went looking for a mortgage.   Those days are gone.   In today’s market, you need to be able to show up front that you can qualify for a home in the price range for which you are looking with a Pre-Approval.   This will also you save you time and frustration when your realtor is trying to find homes for you that will fit your needs and budget.

The purchase of a home is probably one of the biggest investments you will make in life.   Being properly prepared will help make the process go more smoothly and reduce any negative surprises.

Please contact me if you are considering buying or selling.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789

Community Resources

WELCOME

2019 Welcome Services

The Dinsmore Team has created this handy guide for both Buyers and Sellers. The guide lists trusted service providers that we use personally and professionally. The providers listed service the Forsyth and North Fulton County areas.

2014 Complete Guide to Moving

This 20-Page Guide will be your comprehensive source for selling your home and planning your move. It includes tips for getting ready to sell, planning your move, packing and transitioning into your new home.

2014 Home Owners Tip Guide

This 20-Page Guide will help you develop an annual maintenance schedule for your home's systems and appliances to help you avoid bigger problems by taking care of them while they are small. It's also a great resource for trouble shooting malfunctions on your own, saving you time and money.


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Marie@DinsmoreTeam.com

770-712-7789