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Value
Of An Agent
Common
Errors to Avoid
Home Inspections & Links
House Hunting Worksheet
Know
the Market
Know the Neighborhood
Top 10
Potential Problems
Value Of An Agent
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Common Errors to Avoid
Preparing Your Home
Should
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Best
Asking Price
Sell
or Buy First
Why Use
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What Do
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20
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Mortgages Explained
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When Buying, Know the Neighborhood
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...
- 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.
- 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.
- The quality of neighborhood planning, any
future development plans and local zoning will
also have a significant effect on a
neighborhood's desirability. Re-sale 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 development in
desirable areas.
- 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.
- Look into the local job market as well. 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 one of
your most valuable sources of community
information.
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