6 Things You Should Look for In a Neighborhood
A neighborhood can have a big effect on your way of life. If you are looking for a new home or moving into a new neighborhood, make sure you follow these guidelines in selecting a neighborhood.
1. Proximity to your favorite places and activities
Write down the activities and places you do or visit most frequently such as church, gym, shopping mall, etc. Calculate how far and how long you will have to travel from your target neighborhood to these places.
2. School District
This should be a top priority especially if you have school-age children, but for those without kids, don’t overlook this since it also affects the resale value of a home. Check out the Department of Education in your area for information on class size, percentage of students who attend college, test scores, and special enrichment programs. Try to look at different schools in the neighborhood and assess which would best suit your child’s needs.
Make sure the neighborhood is safe before moving into it. Check out the police department for the crime statistics in the neighborhood. Take into consideration the type and frequency of crimes and in which areas they usually happen within the neighborhood.
4. Economic Stability
You may visit your area’s city economic development office to check if property and income values in the neighborhood are stable or increasing. Find out the percentage of homes to apartments. More apartments may mean residents are more transient. Be on the lookout for vacant houses as well as homes that have been staying in the market a bit too long.
5. Your Home’s Price Appreciation
You may acquire information about price appreciation in the community through a local Realtor. Although there is no guarantee that past trends will continue, this information will at least give you an idea if your home will be a good investment. Planned developments as well as other modifications or changes in the neighborhood (such as a new school or highway) may affect your home’s resale value so it is wise to check these information with your local realtor.
6. Your Own Observation
Walk around the neighborhood and make your personal observation. Are the houses clean and well-maintained? Are the streets the peaceful? Do you feel good inside the area? It is also a good idea to talk to people living in the neighborhood about their experiences or problems with the area and if they are happy with the neighborhood.