As a real estate expert in Douglas County, NE, I have witnessed firsthand the significant influence of utilities and services on property prices in this area. From electricity and water to trash collection and internet services, these essential utilities and services play a crucial role in determining the overall value of real estate in Douglas County.
The Cost of Utilities
One of the primary considerations for potential homebuyers when looking at properties is the cost of utilities. In Douglas County, NE, the average cost of electricity is approximately $0.12 per kilowatt-hour, slightly higher than the national average of $0.10 per kilowatt-hour. While this may not seem like a significant difference, it can add up over time and impact a homeowner's monthly expenses. Another utility that can significantly affect real estate prices is water.In Douglas County, NE, the average cost of water is $0.005 per gallon, slightly lower than the national average of $0.006 per gallon. However, this cost can vary depending on the size of the property and the number of occupants. For instance, a larger home with a bigger yard will likely have a higher water bill than a smaller home with fewer residents. In addition to electricity and water, other utilities such as gas and internet also play a role in real estate prices. In Douglas County, NE, the average cost of natural gas is $1.20 per therm, slightly lower than the national average of $1.27 per therm.
As for internet services, the average cost for a basic plan is around $50 per month, which is in line with the national average.
The Impact on Real Estate Prices
So, how exactly do these utility costs affect real estate prices in Douglas County, NE? The answer is simple – they can either increase or decrease the value of a property. For example, a home with high utility costs may be perceived as less desirable to potential buyers, as they will have to factor in these expenses when considering their budget. On the other hand, a home with lower utility costs may be more attractive to buyers, as it can save them money in the long run. Moreover, the cost of utilities can also impact the overall affordability of a property. In Douglas County, NE, the median home value is around $200,000, and the average monthly utility cost is approximately $300.This means that utilities make up about 18% of a homeowner's monthly expenses. If these costs were to increase significantly, it could make it more challenging for potential buyers to afford a home in this area. Additionally, the cost of utilities can also affect the resale value of a property. If a homeowner decides to sell their home in the future, potential buyers will consider not only the current utility costs but also any potential increases in the future. This can impact their decision to purchase the property and even affect the selling price.
The Importance of Services
Aside from utilities, services also play a crucial role in real estate prices in Douglas County, NE.Services such as trash collection, recycling, and snow removal are essential for maintaining a clean and safe community. These services are typically provided by the county or city and are funded through taxes. In Douglas County, NE, the average property tax rate is around 1.85%, slightly higher than the national average of 1.07%. This means that homeowners in this area pay a higher percentage of their property's value in taxes. However, these taxes also go towards funding essential services that can increase the value of a property. For example, a neighborhood with well-maintained roads, parks, and public spaces can be more attractive to potential buyers.
These services not only enhance the quality of life for residents but also contribute to the overall aesthetic and desirability of a community.
