Many homeowners may not initially consider the local water quality, educational system, transit and roadways, and electrical grids when looking to purchase a new home. However, these are essential factors when evaluating current and future home value.
While some areas have modern infrastructure systems invested in the future, other areas' systems are deteriorating. Realtor.com researched the local infrastructure of 150 metros, finding the best and worst by measuring the percentage of 'structurally deficient' bridges, per capita government spending on electric grids, and many other important features.
“Cities that keep up with infrastructure needs are a big step ahead in attracting home buyers,” says Scott Muldavin, chair of the Counselors of Real Estate, a Chicago-based industry group. The home buyers, he says, "want short commutes, transit options, and quality roads. Time is money, and being near good infrastructure improves home value.”
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