You’re ready to buy a home. Hopefully, you’ve read through our blogs, done your research, and are prepared for the home-buying process. Now, for the fun part (at least, we think so)! Selecting the neighborhood you’ll call home can be exciting, but is not a decision to be taken lightly. Here are just a few things to take into consideration as you explore different areas:
• Determine your “must-have’s”. This list would include things like school districts, the type of home, amenities, etc. Then start your search with areas that most closely fit your wish list.
• What’s It “really” like? Visit neighborhoods during different times of the day, to really get a feel for traffic, noise levels, and community interaction level.
• Consider your commute. How long will it take you to get to work? Will you be driving in or against the rush-hour flow of traffic? Is the route direct, or difficult to navigate? Consider travel expense and commute time.
• Is it safe? According to hgtv.com, “Most real estate sites have statistics that tell you how the zip code's crime rates measure up to the national average”. You can google “crime statistics by neighborhood” or visit websites like crimereports.com, which can tell you about crime rates in any neighborhood. If you want more specifics, may be able to get reports from the local police station.
• Cost and Property Values. Can you afford to live in your ideal neighborhood? Do the properties in the area hold their value? Thespruce.com suggests, “Find out what houses in the neighborhood are currently valued at then ask a real estate agent how that compares with the average value five and ten years earlier”.
• Does the area fit your lifestyle? Is being close to parks and recreation important to you? Maybe you want to be close to lively nightlife or the music scene. Is there shopping or are tourist attractions nearby? Research how your new neighborhood will fit into your daily life.
• Trust your gut. What was your first impression? Visualize yourself living there; does it feel like a good fit? Be observant. Are there abandoned buildings or a lot of “For Sale” signs? Be aware of warning signs and your initial reactions to the area.
Depending upon your goals, you may live in your next home for many years to come. Invest the time to really analyze the area you look to purchase your home in, not just for the aesthetics, but for the overall picture it presents.