When you are buying a home in Michigan (whether it is Livonia Real estate, Oakland county Real Estate, Wayne County Real Estate, Livingston County Real Estate, Washtenaw County Real Estate) here are suggestions on what is a plus or minus in value.
- Where you buy your Metro Detroit home does make a difference! Many Michigan home buyers made some bad decisions when buying new homes. They were too caught up in buying a "new home" and that is was theirs and theirs alone!
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A home on the main street or on a corner bordering the main street is going to be worth less than a home inside the subdivision. The closer you are to main streets, stores, factories brings the value of the home down.
Just because you paid a big premium for a lot when you built, because it is wooded or on a cul-de-sac doesn't mean that you will recoup the money many times over. As time goes on it is hard to put a large value on a lot. Some new home buyers pay a $75,000 premium for a wooded or cul-de-sac lot. You most likely will never recoup that money.
A lot that backs up to the woods or cul-de-sac appeals to the nature lover, or private person. A lot that backs up to the commons, or where nobody can build behind you is a plus. But not $75,000 or $100,000 worth.
A lot that is near a school or park may be a plus or minus depending on whether the future buyer has kids, want to enjoy the park, or is getting up in age.
So if you are buying a new home think hard where it is located. It may be much harder to sell once it is a "used house"
For a market analysis of your Metro Detroit home email me at info@RussRavary.com
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My Month of April quote:
"Sometimes the only way to get to the far shore is to lose sight of the shore you just left"
Russ Ravary
"helping make your move easier"
your local Metro Detroit Realtor helping clients like you sell and buy homes through out the entire Metro Detroit suburbs. I love showing and selling Oakland County and Livingston County Lake front homes too.
