It's not enough to just fall in love with the house; the neighborhood must also be a good fit. If the neighborhood doesn't satisfy your wants or expectations, even if you discover a property that seems ideal for you, you can end up being unsatisfied. Before buying a house, be sure to ask yourself these questions to be sure you've chosen the right community.
How do the other houses in the area compare?
Should you pick the worst property in the best neighborhood or the worst home in the best neighborhood? I always advise us to purchase the worst property in the finest area. Why? The nearby homes in your neighborhood could have an impact on your home's worth. For instance, if you paid a premium for a home with every upgrade but the neighboring homes in the community are all utterly outdated, the value of your property will be assessed in contrast to those completely out-of-date properties when it comes time to sell. The price at which you can sell your home may not be as high as it would be if it were situated in a neighborhood with homes similar to yours.
Do you value convenience?
While some people choose to live in more rural areas, others consider accessibility to things like major highways and a wealth of shopping to be important considerations when making a home purchase. Both options have advantages and disadvantages, so it's crucial to choose the one that will work best for your family. Having said that, being close to highways, transit and premium commercial areas can increase the value of your home if you ever plan to sell it.
Are property values rising or falling?
Generally speaking, neighborhoods with rising property values are attractive places to invest in real estate. For instance, several municipalities have top-notch school systems or building new schools. As a result, property values in these communities have risen dramatically and are still rising.
How well-regarded are the nearby schools?
Families whose children will attend public schools should pay special attention to this factor. You should be able to find out the school zone from the MLS listing, your real estate agent, or by getting in touch with the neighborhood school system.
In general, the location of your residence dictates where your child will go to school.
If the school's reputation doesn't sit well with you, you might want to look for housing elsewhere. However, if you intend to send your kids to a private school, the house's proximity to a school zone might not be a deal-breaker at all.
Is the area accessible on foot?
This can refer to anything from having a neighborhood coffee shop right around the corner to simply having sidewalks and parks close by to your dream home. In addition to independently exploring the region, visiting WalkScore.com to see the neighborhood's individual scores is a fantastic approach to learning more.
How secure is the area around the neighborhood?
Let's face it, nobody really wants to reside in an unsafe neighborhood, yet it might be challenging to tell at first glance. It's a good idea to do some online research on the crime rate and speak with locals to obtain their opinions.