A Guide to Choosing the Right Neighborhood
There is a lot that goes into searching for a new home. Any Realtor will tell you that the most important factor is location, location, location! You can find a dream home but if it isn’t in the best neighborhood then it might be hard to sell later on or it might lose significant value. Knowing what things to look for when you start your home search will ensure that you find the right home in the right neighborhood.
Affordability
The first thing you want to do before you start to look at homes is to get a pre-approval from a lender. Knowing your budget and what you are able to afford will determine what neighborhoods you could afford to live in. Since the location of a home is a huge influence in the price of the property it might be smart to avoid areas which you can’t afford. It is very important to inform your Realtor of your budget so that he or she will only show you properties in areas which fit within your budget.
Neighborhood Preferences
Do you want to live nearby your favorite restaurant, gym, or coffee shop? Do you prefer the feel of an urban environment where you can simply walk to almost everything? Many people love to live in areas like this but keep in mind this also means more cars, traffic and people. Are you more for the simpler, quieter neighborhood where you have to drive in your car more often to go to certain places? You might be one that prefers a suburban neighborhood. Do you want absolute peace and quiet with no neighbors right next door? If so, you will want to shop in rural areas for your home. Make sure that when you are shopping for you new home you are shopping in the area that will suit you and your family’s lifestyle and preferences the best.
School District
If you have children or plan to have children this should be a big determining factor when it comes to deciding which neighborhood you want to live in. Schools make a big difference for many buyers and a buyer will certainly pay a little more if it means having peace of mind in sending their kids to a good school. Do your homework (no pun intended!) on different school districts and their ratings so you know where to begin your house hunt.
What’s Next Door?
Another factor to consider is the property and the lots surrounding the home. Are there any vacant lots that could potentially turn into a development of some sort? This is important if you are looking for something rural and prefer to have more space between your home and surrounding homes or businesses. Is the lot or home next to the house in good condition? Better yet, are the homes on the block in good shape? This is another important consideration to make because this can great improve or diminish your property and home value. Also it is important to note if any chemical plants, gas stations or other potentially hazardous areas are around the area or were around the area at one time.
You want to ask yourself the ultimate question when you are looking at any home… ” Will I/we be happy living here for a while?”. If you cannot see yourself happy in that home or you realize it will not work for you five years down the road then you want to keep looking. There is no use in settling when it comes to buying a home, after all you are going to live in it so you want to love it!
