Choosing the neighborhood for your home
Information for first time home buyers
Buying a home is an investment in the neighborhood as well
as the house. In fact, the character and amenities of the
neighborhood may be as important to the property value as
the house itself. No matter what kind of neighborhood you're
looking for, it's important to know its history and future
when you decide to buy. Here's what to research:
- Recent
sales - Find out if the market is slow and what homes have
been selling for.
- Homes
now for sale - What homes are listed in the area, and are
they listed above past sales? This will give you a good
idea of the area's overall market value.
- Home
appreciation - Historical data on sales gives the best indicator
of a neighborhood's potential. Are homes appreciating at
3%, 5%, 10% or higher every year?
- Schools
- School scores and district boundaries are very important
to research before moving into a neighborhood. The closest
school is not always in your district, and school scores
reveal if a neighborhood is invested in the schools' success.
- Crime
- Get the hard facts about any problems in the neighborhood
-- don't depend on anecdotal information.
- Demographics
and growth - Find out how the area is growing and changing.
- Community
- Learn about neighborhood features, such as public schools,
shopping areas, parks, commuting options and more.
I
can help you with this information. Please give me a call
or email me any questions you have. You'll find that the more
you know about the neighborhoods you're considering, the easier
it will be to narrow your search for your new home.
See our
other articles for first time homebuyers:
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