How to Find Your Perfect Neighborhood..
How do you know if a house is good? Location, location, location (you knew that one was coming, didn’t you). It’s an old clich, but it still holds true. You want to move into a good neighborhood that’s either on the rise or is well-established. You’ll probably get a better deal if you find one that’s an up and comer, but they’re not always easy to spot. The best place to look for these diamonds in the rough is in the neighborhoods that are right on the edge of the more established neighborhoods. As the established neighborhood expands, you’ll suddenly find yourself in 5 years living in a prime location.
A good neighborhood:
Is close to thriving economic centers.
Has good public schools.
Has nearby shopping areas.
Good public facilities like parks and community centers.
Is an easy commute to major metro areas.
Has well-maintained homes.
Has low crime.
Has high percentage of owner-occupants.
Finding out this information requires research. For crime statistics, call the local police precinct. For school scores, call the local city council. The rest of the information you can get simply by driving around the desired area and seeing what’s out there. Talk to people in the neighborhood and see what they think. Also talk to people outside of the neighborhood and see why they don’t live there.
You will also need to find out what the resale value of the neighborhood is. That is, if you want to sell your house, how long will it take you to unload it?
Here’s how to figure it out:
Ask your real estate agent how long “for sale” houses in your desired area have been on the market.
If sales have been sluggish, find out if it’s because the market is slow or if it’s because the neighborhood has a problem.
However, if there’s been an increase in buyers from other areas coming in and multiple offers on the homes for sale, then you know you’ve hit on a good neighborhood.
Other signs of a good neighborhood are when residents remodeling their homes, when residents are buying bigger homes in the same neighborhood, and when there is a small number of renters.
Finally, ask the people who live there. Read their local community papers and shop in their stores. In other words, spy on them. Don’t worry, we won’t blow your cover.
But even if you feel you have found the perfect neighborhood, there are still a couple of more things you should check out. One is to call city hall and make sure they aren’t planning any major road construction through that area. The other is to drive to and from the neighborhood you’re interested in from different directions and at different times of the day. You may have only seen the “scenic route” and not be aware that the neighborhood is right down the road from a Hell’s Angels clubhouse. That’s not good unless you’re a member yourself.