It ’s been said that home is where the heart is , but if your heart is in the rightfield or wrongZIP codeit can sure enough affect your menage ’s value . In fact , some people put more gunstock into what ZIP code they live in than almost anything else associated with the property .
For most of us , there are some simple quality of life issue to consider : Are the local schools and public services up to par ? Is there crime in the residential area ? How long will it take me to get to work from here ? The answers to those questions will directly affect your home base ’s economic value . retrieve also about the state of the road and whether they ’re sufficiently plowed during the wintertime or repaired as they age . In addition , zoning issue need to be weigh : Is a strip shopping center plan around the corner or is street widening on tap for your little - traveled avenue [ source : realtor.com ] ?
Beyond those considerations there ’s the possibility you may be actuate to – or are currently live in – the next self-aggrandising hot spot and you just do n’t know it yet . When you count what your home could be worth , believe about the notable case ofGoogleand a neighboring metropolis .
Atherton , Calif. , is a small town that ’s a short drive from Google ’s headquarters in Mountain View , in the heart of Silicon Valley .
In 2004 , a funny matter happened to Atherton : Google employees began bolt up real estate . It began in September when the first set of employee , exempt from a lockup period set by the Securities and Exchange Commission , could commence legally sell off gunstock in the company . [ germ : Tam and Mangalidan ] . Software developers who had genuflect up a support in college were now millionaires . Overnight .
Atherton was already well - to - do , but the influx of " new money " head to bidding warfare on real demesne . In 2011 , the average home toll was just over $ 4 million , which make Atherton ’s 94027 ZIP codification the second most expensive one in the United States , behind only Duarte , Calif. in Los Angeles County ( 91008 ) [ source : Forbes ] .
You could just say the employees were pursue their drawing card : Eric Schmidt , executive chairman and former CEO , shout Atherton dwelling . But that ’s not the only example of an unexpected change in an shew neighborhood .
The Upper East Side of New York City experienced a split that had some surprising results . That ’s next .
Time to Split
For years the most expensive place to live in New York City had been the Upper East Side , along Central Park . If your mail bluster the ZIP computer code 10021 , you knew you had formally " arrived . " That is , until theU.S. Postal Servicechanged things up .
In 2007 , the post part split the posh ZIP computer code into three voice , adding 10065 and 10075 , respectively . U.S. Rep. Carolyn Maloney cited universe growth : There were just too many people get chain mail in 10021 . It was a nightmare for the mail office . Suddenly famed occupier like metier giant Rupert Murdoch and novelist Tom Wolfe were no longer living in the most seek - after ZIP codification in America [ source : Roberts , Shapiro ] .
As in sprightliness , wounds heal with clip . In fact , those who kept the posh ZIP computer code might need to conceive moving a few blocks : the young 10065 aim seventh on Forbes ' 2010 most expensive cipher codes lean . As for 10021 , it jail behind at No . 25 .
Your destination certainly does affect your home ’s value . How it affects it is another matter . The education and crime – or lack thereof – associated with your address is obvious , as is the quality of your streets and the holding upkeep of your neighbors . In addition , there may be unique issues that come to bear on your home ’s economic value ( an Internet behemoth is bear next threshold . ) Research issues within your power and assert a dialogue with local occupant to give you the secure chance of learn about unexpected developments .
Even in a elusive market , if you conceive you ’re domicile will never regain its economic value , keep your eyes open . Change may be on the way . Who knows , your neighbor ’s kid could be create the next Google .
