5 Important Things Affecting Ulster County Home Values

Posted by Dylan Taft on Friday, January 25th, 2013 at 1:18pm.

5 Important Things Affecting Ulster County Home Values

Ulster County home valuesSome of the most important things affecting Ulster County home values are associated with the location, neighborhood, and town that the property is in. In our earlier articles, Taft Street Realty discussed some of the do's and don'ts of Ulster County real estate and some signs to look for when you're viewing a home. This post covers the importance of doing your homework and researching the area that surrounds your potential dream home. Things like the taxes, neighborhood, and landscape can all have an impact on the value of the home.

Property Taxes

Ulster County Property TaxesBack in the days, taxes never seemed to be a concern; and they certainly never got in the way of the sale when it was time to close. But today, fuggedaboutit! Exact tax numbers MUST be determined before a buyer makes an offer on a home. In Ulster County, assessed values are still in most cases higher than the true market value and therefore property tax amounts could be too high for a buyer to qualify for the loan. NEVER trust the taxes shown in the listing! More often than not, the taxes shown are lower than what they really are or have exemptions tied to them. If a loan originator uses numbers that are too low then the buyer could be in for a rude awakening come closing time when either they don’t qualify or their monthly payment is way higher than originally quoted. Always contact the town for the true most recent and accurate tax numbers before getting qualified, and definitely before making an offer…

Neighbors and the Condition/Value of Their Homes

Hudson Valley Home ValuesThis is an area many buyers often overlook. The condition and value of the neighboring homes is important. The general rule of thumb is that when at all possible, it’s best NOT to have or buy the most expensive house on the block - unless all your neighbors’ homes are as nice and just as expensive. If you buy a house for $300k and all of the surrounding homes are less than $200k - that could be a problem over time. Ask yourself, “Do/will the neighbors keep their homes as nice?” or, “will this affect the value of my home if/when I want to resell?” Just make sure you absolutely love the location you are buying in if the surrounding homes are not in line with what you’re buying. It's always best to find a house in a location where you can catch up to the neighbors and their home values over time. Look for that $250k house in a $500k neighborhood and you might just have yourself a winner…

Proximity to Conveniences | How Remote Is the Property?

Kingston NY Homes for saleAre you in the sticks? Is it too quiet out there? If you like seclusion than no neighbors are great. But if not, make sure you know the surrounding area and make sure you map out where the nearest gas station or supermarket is. With gas prices where they are these days, buyers should at least think about the cost of driving to and from the main village or hamlet in case you need milk or eggs or just want to grab a pizza on a lazy Sunday. Don’t underestimate the importance of nearby conveniences…

Nearby or Neighboring Wetlands?

Wetlands near Ulster County real estateHow wet is the ground around the house and around the neighboring properties? Is the home on a designated flood plain? Is the elevation low? Do all of the surrounding lands drain onto the property you like? Make sure you pay attention to the grounds and make sure you are not in a known flood zone or in a classified or designated wetland area. There may be development restrictions or you simply may be in a low land area where drainage could be a problem or the septic system could be stressed or compromised. After Superstorm Sandy and Hurricane Irene before that, pay careful attention to the potential for flooding in your potential dream home and how it may affect the home's value. In this respect it's very simple - do your homework…

Local Zoning Laws | Can You Do What You'd Like to the Property?

Zoning Laws In Ulster County Real EstateAre you looking to work from home? Maybe run a pet spa on the property? Perhaps transform a single family home into a 2 family? Whatever it is you want to do, don’t assume it is possible. Make sure you contact the local town zoning department and make sure the property you like has the zoning in place to accommodate the things you want to do on the property. Never assume…

Your Local, Go-To Resource For Ulster County Real Estate Info

Ulster County real estate MLS Updates Taft Street RealtyThis concludes our series featuring the 15 things to look for when viewing Ulster County real estate for sale. At Taft Street Realty, we know that knowledge is power for Ulster County buyers and sellers. That's why we strive to be your local, go-to resource for information on all things related to Ulster County real estate!

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