Within the greater bay area, there is a huge variance of property prices given location. The goal of this article is to outline top factors for valuing properties within a particular zip code across bay area.
- Public Schools : schools are the best long term holder of value for your property. Houses in good school districts hold value during downturns because of low turnover. School districts with elementary, middle and high school rated 10 are the most sought after. If you can buy a primary residence in such a location, then you are set for the next 15 years if you have kids.
- Private Schools : This is a less publicized reason, but proximity to private schools also help houses retain and appreciate in value. Some top private schools in the bay area : Stratford, Harker.
- Commute time : Proximity to offices helps reduce commute time.
- Public transport : this can be a secondary proxy to commute. Access to Bart, Caltrain stops can help retain property value. This always means that you are potentially opening up the house to renter population who would need to use public transport to commute to office locations in San Francisco, San Jose. Property values and fiscal benefits of bart.
- Grocery store proximity (Trader Joes, Whole Foods) : Average home seller ROI for properties near Trader Joes is 51% over 5 years
- Parks, hikes, trails, walking area
- Shopping centers, malls
- Proximity to Costco, Walmart
- Easy access to highways like 101, 280, 680. This is another proxy for shorter commute time.
Things to avoid. These aspects will limit the pool of buyers if you try to sell your house
- Proximity to rail road tracks, busy streets, electric wire poles
If you know any locations which tick all these boxes and are priced reasonably, please comment and let us know.
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