BUYING REAL ESTATE? HERE ARE 6 THINGS TO LOOK FOR IN A GREAT NEIGHBORHOOD
Are you moving into a new area? Before you start looking at homes for sale, be sure you consider the neighborhood you’d like to live in.
Falling in love with a home that’s located in the wrong area for you is one of the most frustrating experiences for home buyers. We see this frequently and have compiled a few tips to help you hurdle this obstacle with ease.
There are so many elements to consider when searching for the right area to settle into. Neighborhood amenities, style, and safety are just a few of the many things to consider. Below are just a few things to look out for when considering the next neighborhood that you’ll call home.
1. OTHER REAL ESTATE IN THE NEIGHBORHOOD
Although some buyers think that streets lined with foreclosure signs can result in a higher return on investment in the future, it can actually be an alarming sign.
The presence of too many foreclosure signs in the neighborhood can translate into a bad place to live.
Be sure you do your homework and find out whether a neighborhood is financially stable.
2. OUTLOOK FOR THE FUTURE
Buying real estate can be a lifetime investment—not just for right now. At the moment, you might be a bachelor, but if you see kids or a family in your near future, you might want to consider this when choosing the right neighborhood.
Buying real estate in an urban, populated area might be the best idea for your current life, but you’ll have to consider if it will work in the long run.
Be sure that the property you purchase can hold up to your life in the future as well as in the present.
3. SIGHTS, SOUNDS, AND SMELLS
Let your senses help you make the decision. If something doesn’t look right, feel right, or even smell right in just the first visit, you can assume that living in it won’t be right either.
Take a look at what surrounds your neighborhood. Train tracks, beaches, local restaurants, and air traffic patterns are just a few of the many things you might want to consider before signing any papers.
4. CRIME RATE
One of the first things that many homeowners look is safety. Real estate areas that have crime rates stacked upon each other can result in an unsafe lifestyle.
Although there are many online resources that can allow you to check the crime statistics in your area, your real estate agent can help as well. Having access to this information will be able to help you make the best decision for yourself or for your family.
No matter if you are interested in the schools in your neighborhood or not, they can greatly affect the value of the real estate in your desired neighborhood. High performing schools can affect the resale value of your investment.
Conducting a bit of research on the school zone and district that the neighborhood falls into can help you make the best decision for your needs.
6. COMMUNITY LIFESTYLE
No matter if the neighborhood meets all the criteria on your list, if those in the community don’t live the same lifestyle you live, or live the one you would like, you could end up regretting your purchase.
If you’re a young couple looking to live in an urban area, a family oriented neighborhood might not be for you—and vice versa.
Finding the neighborhood that works best for you isn’t just about the data. High performing schools, low crime rate, and great reviews are a great start to finding the right neighborhood for you, but not the only measure you should take. Ask yourself if you can really see the neighborhood as your home before making any final decisions.