Should i sell my home in a declining subdivision?

i have nice home in a subdivision in decline (13 yr old sub). Many people in neighborhood are letting their homes fall apart. I am worried about my investment in my home and wonder how much of an impact it will have on me. Here in Raleigh the housing market isn't too bad, unlike other areas in the country, so I don't think it would be too long for my home to sell.

Also, my home is getting close to needing a new roof, and possibly a new heat pump. Yikes!

The positives to staying is that the location is great, the schools are very good, and we really like our house. If we move we will have to go farther out to get an affordable home, and the schools aren't as good.

What should I do? Any advice on this would be appreciated!

If you have an active HOA, they should be engaging the folks who are allowing their homes to fall into disrepair. Those homes will lower the value for everyone else in the subdivision.

If you like your house and the schools, I would not suggest that you move.

well first replace roof . roof leaks lead to major costly repairs.
get bids on new hvac systems not limited to heat pumps. prices are good now.
will save u long term and help retain value of house.

as for schools , how long b4 last kid is out?
compare to 'decline'.
schools are what u get out of them. if u want u can work ur kids education with homeschooling add ons.

u have to do the numbers for u .
b4 moving.

If you like your home and location, why move? Does your home no longer fit your family's needs or have you had a job change that requires you to move or to downsize?

A declining neighborhood can affect your home value, which is too bad, but if it's already visibly apparent that your neighborhood is in decline it's probably too late to leave and still get full value for your property.

A proactive approach would be to contact some of your neighbors you are friendly with and come up with ideas on improving your neighborhood. Start over coffee, be inquisitive and not critical. There may be some good reasons why some of your neighbors are not caring for their homes (age, job loss, etc) and maybe you can help form a neighborhood coalition to reclaim and help those struggling property owners.

If you are set on moving, contact a local Realtor and ask for a Broker Price Opinion - most of us do that for free - and interview at least 2 Realtors for the very important job of properly marketing and selling your home.

Be aware that neighborhoods go through life cycles too. Your's is probably in the full maturity stage of life. It may suffer a little decline as properties age and some owners don't do the maintenance, or as shiny new subdivisions get all the attention. But it sounds like the basic requirements for a strong neighborhood are in place - good schools, good location, you like it, etc... Examine your needs for the foreseeable future - do you have kids, or planning to have kids? Are you about to become an 'empty nester'? How do you feel about the time and expense of selling and moving to a new house? Not to mention the huge inconvenience, Too many unknowns for me to say sell or stay, but you can figure it out by analyzing your own situation closely. If you want any more help, send me an email and I will try to go into more detail.
www.ahdevito.com

I say consider sticking with it. I never recommend anyone moving further "out" and then being stuck with a long commute or sprawl.

Keep in mind a few things about Raleigh.....some neighborhoods that a few decades ago were considered "In decline", are now (thanks to investment) big money historic neighborhoods.

Think about Boylan Heights or Cameron Park...everyone wants to live there now...lots of historic houses, close to downtown and all that. People who bought houses there in the 70s and 80s when everyone else thought it was "in decline" have now seen the property rates go skyhigh. People have renovated and worked on their homes to make them better....and some have sold for literally 5 times what they paid for them!

Another good example is Woodcrest...a neighborhood of 1950s ranches just north of downtown. In the 1990s, it was considered a run-down neighborhood, and an aquaintance of mine bought his home for 95 thousand. He says he could easily sell it now for 230 thousand.

This could very well happen to your neighborhood eventually.

If you see that, I agree you need to sell.

I have seen new neighborhoods do that here where I live, and there is a "point" where you just about can't give it away.

I bought my first home in a neighborhood that did that, sold for the same reason....that was many, many years ago and if I had stayed I would not have gained one dime of equity.