| House prices drop in regions with high crime |
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The title states the obvious! You really cannot expect to have a property of a high value that is in an area that’s riddled with crime. If you already own a house there then you can expect that unless the police take control of the area and get the crime under control. A person wanting to buy a property most certainly won’t want to buy your house! It is a known fact that before buying a house potential buyers are getting wiser and don’t even consider purchasing a home to live in that’s in an area of high crime rate. If you already own a house in one of those areas you can began to feel sorry for yourself, however that won’t solve the problem! Perhaps it’s time that your local neighbourhood started to stand up to gangs of kids that stand in the streets socialising, drinking alcohol and taking drugs. Is it the parents that are to blame for their behaviour? – That seems to be the approach that local councils, education sectors and the police seem to have taken. There are mothers in the UK that face having to be evicted from their homes due to the uncontrollable behaviour of their teenage kids. If you are a home owner you are not going to feel an ounce of sympathy upon reading this article, however you can take measures to help ensure that you don’t get stuck in this situation! – Common sense would be not to buy a house in an area with crime full stop! If you are a young couple perhaps a first time buyer it will be a lot more affordable for you to be able to purchase your house in an area of crime. If you are left with no choice but to do this you need to make sure that you have a reliable burglar alarm installed into your home. Perhaps before making a purchase in an area that you are not familiar with you should take a drive there at night. Believe me the place might look pretty relaxing and peaceful during the day time; however UK neighbour hoods can turn into chaos at night! One important factor that people forget to check out is who their new neighbours will be! Ever watched that program neighbours from hell? You could end up with ecstasy popping music playing head bangers next door to you. Believe me if you work hard during the day you need to make sure that your house is a sanctuary by night. A report that was delivered by the Economic Journal in the UK was conclusive on the results that home buyers looking to purchase property in areas without crime could expect to pay 1.7% more for a house in an area where the crime is 10% below average in London. Deciding factors that are taken into consideration by house owners are vandalism, and graffiti. You may be surprised to know that burglary rates were not even taken into consideration before placing a value upon a property. Approach the market with extreme caution. |
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