You're in the market to buy. You've probably given a lot of thought to the type of home you want as well as your budget and buying price range. There's an additional topic, though, that requires your careful consideration. Which neighborhood is right for you?
Neighborhoods vary as widely as the people that live within them.
It's important to research the neighborhood where you're considering purchasing a home. You want an area that fits your needs, personality, and social habits. These factors can influence your overall happiness just as much as that updated master bath or outdoor kitchen.
Check out the lines for local school districts. Some neighborhoods may surprise you by which district they're in and that's a big deal for some families. You may already have children in a certain school and don't wish for a move to displace them.
You'll also want to see how far away amenities are. Do you want to be able to walk to shops and restaurants? Walkability is really important to some buyers. Others are happy when grocery stores and gas stations are just around the corner. You can calculate a "Walk Score" right here on out site- Just click this link
In order to properly assess a neighborhood, you should be sure to gather the facts. Your REALTOR® should have data on the most recent sales (comparables) in the area. This will help you see the latest trends in pricing. Are home prices dropping? If so, by how much? Is there a large percentage of distressed homes for sale in the neighborhood? This could signal a larger trend and indicate further median home value reductions in the future.
You can also get information from people that already live in the area. Take a walk or drive around your prospective neighborhood. Take a good, hard look at the state of repair of the homes and how good yard upkeep is. If you see someone out in their yard, don't hesitate to go introduce yourself.
You could say something like, "Hi! My name is X and I'm thinking of buying in this neighborhood. What do you think of this area?" If you're lucky you'll find a talker that can give you all the down and dirty details, if there are any. They may also be able to answer questions about the social aspects of the community. Is this a neighborhood that has block parties, neighborhood watch meetings, and is friendly and social? Is this a place where people mostly keep to themselves?
Picking the right neighborhood is just as important as picking the right house.
Written by Carla Hill
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