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One of the most
important decisions a homebuyer must make is choosing the right
neighborhood. While this is a very personal decision that often hinges
on hundreds of different factors, you should always keep in mind the
following...
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If
you are considering buying in an unfamiliar neighborhood, take the
time to walk or drive around it, both during the day and in the
evening.
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Check
out the availability of community amenities (such as public
transportation, parks, stores, churches and schools). If you have
school-age children, you may even want to visit the local schools
and daycare centers.
- It's a good idea to travel
the new driving route to and from work during the appropriate
times to see what traffic is like.
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The
quality of neighborhood planning, any future development plans, and
local zoning will also have a significant effect on a neighborhood's
desirability. Resale values and even future property taxes are
likely to be affected by any significant neighborhood changes. Are
developers interested in the neighborhood? If so, find out what kind
of projects they have planned. You should remember that attractive
tree-covered empty spaces often become the location of new
developments in desirable areas.
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Find
out if there are major infrastructure projects planned for the area.
Major construction projects, which could be anything from building a
new mass-transit station to widening the area's major roadway, are
usually part of a long-range city, town or county plan. While
construction can be disruptive, you need to determine if it will
have a positive or negative long-term effect on the neighborhood and
its property values. Find out all you can before you decide to buy.
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Look
into the local job market. You can expect property values to rise if
area employers are creating more jobs, especially higher-paying
jobs.
- Talk to the neighbors. They
could be your most valuable sources of community information.
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