Understanding growth patterns to make a SMART buy!!!
When you buy a home it’s a good idea to keep resale in the back of your time! One of the ways you help ensure good resale at a later date is by paying attention to growth patterns in your area. Here are the top 3 indicators of growth that can help you make a smart buy!
- Street widening: If you notice the city widening the streets or highways, that’s a big indicator that they are anticipating growth in a particular area. Additional growth could indicate a rise in home values in the area as well as an increased demand for homes.
- Land to be developed: I bought my house because right across the street is a large open field. I know it will be developed at some point in the future as land is something that is limited. This indicates that eventually there will be more growth in the area which could also mean increase demand for homes in the area and growth!
- Grand Opening of Large Retailers nearby: Many large retailers like Walmart, Starbucks, Whole Foods,etc. do a TON of research before deciding to build and open a new location. Why not take advantage of this research. They are at least 10 years ahead of us when it comes to planning and studying growth patterns. If you’re considering a home near where they are planning to put one of these large retailers it could be a good indicator of growth in your area which means and increase in value in the area.
These are just some of the easy to spot indicators of growth in different areas. Be sure to keep your eyes open to these things as you look for your next home or investment property! Good luck!