Raising the Value of Property

Attracting New Neighbours


When a developer proposes a project, many locals become concerned about their property values. Some of them will take the time to file petitions to stop the project, but others could see it as a way to enhance their own neighbourhoods. New developments are often expensive when it comes time to purchase a home, so they can be a way of attracting new neighbours into areas where people are leaving. Rather than running down the value of existing properties, the addition of new homes and upgrades to the community can become a valuable assets to existing residents.

Communities today have learned developers are willing to negotiate to get their own projects built, and they may have a way to get their own projects started or completed well before they had planned. New roads are often a part of what develops know they will need to provide, so community funds can be shunted to other projects. Rather than decreasing the value of the town or village, a new development can be a good way to upgrade it without emptying the community coffers.

Older neighbourhoods often see residents move away over time, and some buildings may be abandoned. Rather than letting them fall into disrepair, a new development can help them become occupied once more. There will be young couples looking for new housing areas, but their funds might not quite stretch for a house in the new development. Letting them know about older neighbourhoods with houses for sale could revitalize an area quickly.

Not all development in an area will bring down property values, and the opposite is often what happens. Development companies are willing to work with local authorities to enhance an area so they can sell their own lots at higher prices, and the investment is generally within their plans. Negotiating so each side gets what they need to enhance the area can make property values rise quickly as new families move into the area.