Things to Consider When Selecting A New Neighborhood
Purchasing a home is one of the biggest financial steps in your life. This transition is often an investment of time, energy, and love. You might stumble across the perfect property for your needs but, as we all know, what rests inside those four walls is rarely all that encompasses the decision to close. Considering your potential home’s external environment – crime rates, convenience, and growth potential – is a crucial step in your home buying process. Here are some things to consider when looking for the right location to call home:
One of the first things to look for in a new neighborhood is the quality of upkeep in surrounding properties. Unmown grass, fading paint, dirty windows, or other signs of neglect are a good indication that the area is in decline. A great way to gauge the area’s potential is by asking other homeowners their opinions of the neighborhood. Are they happy? What do they feel is lacking in their community? For more in depth feedback, NeighborhoodScout is an invaluable resource for providing trends, demographics, school ratings, transportation information, and some limited crime statistics of your new potential area.
You should always look to see your areas crime rates. Services like CrimeReports collect police statistics and crime reports, breaking them down by geography, crime type, and when they occurred. Be wary of areas with a large number of homes for sale. Vacancy can often attract an unsavory element, not to mention a common denominator for why all the properties are for sale. An external element like a loud, busy street nearby or poor internet connectivity could’ve deterred potential buyers.
Research nearby school systems and healthcare providers. An area’s proximity to these things are in direct correlation with the quality of the area. Your commute to work is also a large deterring factor; look for an area close to good roadways to decrease your commute and increase your time at home with those who matter most. Accessible public transportation is also a bonus for those days interrupted by car trouble or to save you extra time and money
If all of these elements align with your lifestyle, the last thing is to insure your financial security in purchasing a home that has a good resale value. Consider your area’s real estate value and the length of time adjacent homes are on the market, their price, and the probability of long-term value estimates. If a house remains on the market for too long, you should find out why.
When in doubt, consider what your current community is lacking and what you would like to find in a new one. That way – and hopefully after following these tips – you can find a space that makes you happy inside and out!