The old real estate cliche' about "location, location, location" is true, as the area of the city where your home is located will have an impact on its future value as well as your lifestyle. So, what factors should you consider when you are choosing which neighborhoods to house hunt within?
If you’re working from home, or only commuting part-time, you may be considering moving further from your office. Be sure to consider whether the house is near shopping centers, schools, doctors, dentists and other services that you will need regularly.
When you are choosing a neighborhood to buy in, do some research into what developments are planned in the future for that part of town. For example, you might be able to get a better price on a home that is out of the way, but a new proposed highway leading straight into the town center that will be built in the next five years could increase property values considerably.
Take a walk around the neighborhood where you are considering buying and get a sense of the overall atmosphere. Are there a lot of families living there? Are there green places to relax? Are people friendly and saying hello to you? You want to live in a place where you feel welcome and comfortable.
Different neighborhoods will have a range of house prices and you will want to look for something with the right balance of value. Some areas of town will be very expensive but very nice; other areas will have lower house prices but might not be as pleasant to live in. Take the time to find the neighborhood that is in the middle, where you will find the right house, and neighborhood, at a good price. These are just a few of the factors to consider so that you can choose the right neighborhood to buy in.
There are so many factors to consider when buying a new home. Home features like a fenced-in backyard, square footage, etc. may be first on your list of priorities, but don’t forget about the bigger things like atmosphere and property values! If you’re interested in taking the next step on your homebuying journey, let us know. Our team of experts are here to help analyze your unique financial picture and goals to match you with the perfect mortgage!