Property Value Mystery

There are many things that can affect the value of a property, and when you’re house hunting, it’s good to keep these in mind. (This list is by no means all inclusive.)

1. Lot

What are the dimensions of the lot? Is the shape an odd size?

2. Zoning

What uses does current zoning allow/not allow? Are there any easements?

3. Additional restrictions

Are there any city restrictions on the property? Any HOA restrictions?

4. Stigma

Any stigma attached to the property? Alleged hauntings or prior crime scene?

5. Flood plain

Is the property in or near a flood plain?

6. Quality of title

Easements and restrictions can affect quality of title. Are there any?

7. School

How do schools perform in the area vs. other communities? Versus the state?

8. Future development

Any future developments proposed near the property?

9. Additional charges

What additional charges such as property taxes, assessments, utility charges, etc. will add to the cost of home ownership for the buyer?

10. Appreciation

What has been the historical appreciation rate of properties in the area?

11. Traffic

What are the traffic loads and patterns at rush hours and other busy times?

12. Special needs

Does the buyer have any special needs or concerns, such as access to medical or recreational facilities, shopping, public transportation, etc?

13. Misc.

Research other things that may affect property purchase decision such as any nearby landfills, toxic waste sites, certain manufacturing plants, large sports stadiums, etc.