Finding the right neighborhood is extremely important when it comes to determining how happy you’re going to be with your home purchase. If you get stuck in a place that’s not for you, there’s not much you can do about it short of moving again.
In order to make sure you get the best fit, it’s important to do your research. Keep in mind that you’re not just purchasing a home when you buy a house, you’re also buying into the local community. Consider these questions when you’re trying to pick the right place to live.
1. Do You Fit In?
Knowing the culture of a neighborhood can be one of the most important factors when it comes to deciding if a home in that area is the right choice. For example, if you’re a young adult hoping to mingle with the local community, moving onto a street full of retired residents might be a drag.
On the other hand, if you’re a family with young children, it might not be the best idea to move next door to a college fraternity house that throws huge parties every weekend. Be aware of the community experience you’re looking for and try to find a neighborhood that best facilitates that.
2. What Role Does Family Play In Your Life?
New things become a factor when children make their way into the picture. If you’ve already got a few kids or there’s a chance you might have one in the future, note things like the local education system, crime rates, and the size of your property.
Having a yard that’s safe to play will suddenly seem a lot more important. Keep in mind that there’s also the potential you might choose to build an addition onto your home in the future to accommodate for the growth of your family. If this is a possibility, you’ll want to live in a neighborhood that will let you do that.
3. How’s The Location…Really?
If you like a house, it’s often easy to overlook certain characteristics of the location by telling yourself it’s “only a short drive” from everything you’ll need. However, if you really want to be thorough, test the neighborhood out for yourself.
See exactly how long it would take to commute to your workplace and other places you plan on spending time. While the perfect neighborhood might seem like it’s close to everything you’d want, you never really know until you’re on the road making the drives.
The last thing you want to is purchase a new home only to realize that you’re spending twice as long as you thought you would in the car every day.
4. Is The Neighborhood A Good Investment?
Before you spend money on a home in a certain neighborhood, it’s important to consider what the future of the area might look like. This will help you decide whether or not you’re making a good investment.
Try to determine if the neighbor is on the rise or on the (dreaded) decline. One good indicator is the local real estate market. Are a lot of people trying to sell their homes so that they can leave for another place? Or are there new buildings and businesses being built in the area.
When you’re in the market for a home, you obviously want to buy something that will appreciate over time, earning you more money down the road.
Most importantly, if something seems fishy about the area and the people in the community don’t act like they care about its wellbeing, there’s probably a better place to spend your dough. Don’t be afraid to listen to your gut.
5. Are You Fine With Local Rules?
Keep in mind that many neighborhoods are governed by associations that control certain aspects of life in the community.
For example, there might be a rule forbidding the permanent parking of motorcycles in the driveway. If you’ve got a sweet hog and don’t do your research, certain restrictions might turn out to be quite the bummer.
Check with your agent about local rules and regulations and don’t be afraid to ask your potential future neighbors, as well.
6. Is There Anything Around That Might Annoy You?
Certain things like smells and sounds often go unnoticed or ignored during initial walk-throughs, only to be discovered during the first week you spend in your new home.
To avoid getting stuck in a situation where something like a loud noise might wake you up every night, keep an eye out for things like train tracks, obnoxious neighbors, and stinky farms throughout your visits made to the property prior to purchasing a home.
Even make note of things like unkempt properties nearby if that’s something that annoys you. It should, it does tend to lower the value of your home, after all.
7. How Much Will Taxes And Other Expenses Be?
Some areas tend to have significantly higher property taxes than others. Make sure you can afford the taxes long term before making your purchase, especially if you’re anticipating your home’s value increasing.
You should also make sure that you’re aware of fees that might be charged by the local home owners’ association. Most of these have a hefty annual membership fee. Make sure you’re fine paying that before you sign any deals.
8. What Amenities Do You Need?
Many times, selecting the right neighborhood can make your life a lot more convenient if it’s got the right amenities. If you’re already spending time and money making frequent trips to places like the gym, a pool, or the dry cleaners, look for a neighborhood that offers some of these services on site.
It’s also important to make sure you’re aware of what public transportation might be nearby and what public services (like trash collection) are offered, if those things are important to you.
When you’re considering amenities, you can even consider things as specific as what cable and internet providers might serve a certain area, especially if having a fast internet connection is something you care about.
9. Would Your Guests Feel Welcome?
Buying a new house is no fun if no one wants to come to your first party. Consider your neighborhood from the standpoint of visiting guests. Think about things like guest parking, ease of access, and community safety.
While your car might be safely parked in the garage, you should consider what the road parking is like in the area. If someone comes into town for a visit, are they likely to get a parking ticket or fall victim to theft?
Considering things like this prior to making a purchase is sure to save you a headache or two in the future.
10. What Do Other People Have To Say About The Neighborhood
While your real estate agent should be doing their best to educate you on the local area, don’t expect them to cover everything. Sometimes they might simply forget to mention something if you don’t ask.
To make sure you’ve covered all your bases, consult additional resources to get a fuller picture. Try to find out what localized blogs and news media have to say about your neighborhood. Make a stop by the local police station and ask about local crime and problems the neighborhood might have or develop in the future.
By fully educating yourself on what you’re buying into, you’re less likely to set yourself up for disappointment. Most importantly, don’t be scared to knock on some nearby doors and meet people. Introduce yourself to potential neighbors and let them know you’re looking at the house down the road.
This can be a good way to get additional information you can’t find elsewhere and it will also give you a better idea of how you’ll fit it into the local community.
The Bottom Line
Aim to find a neighborhood you can see yourself living in for longer than you plan on owning your new house. If you think certain aspects of a neighborhood are a bit off initially, it’s probably not going to get better.
Like any other step of the home buying process, doing your own research is key. The more work you put into finding the right neighborhood, the happier you’ll probably be with the final results.
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