How To Spot A Good Neighborhood When Buying A Home?
July 26, 2021
“I’ve stayed put in the neighborhood where I first got my start and will never forget the people that believed in me and gave me my first chance.” – Cory Booker
When you are buying a house, you are not just investing in property, you are investing in a neighborhood.
If you don’t want to be living in a neighborhood described by Chris Rock, it is imperative that you do your research on different neighborhoods during your home search. But, how do you do that and how do you know what to look for in a neighborhood when buying a home?
Well, that’s exactly what we will be discussing in this post. Let’s take a look:
5 Factors To Spot a Good Neighborhood
1) Set Your Preferences
What would an ideal neighborhood be like for you and your family? Would you like to live in a quieter area or a busy neighborhood? Do you want a house in close proximity to malls and restaurants? Are there any good schools nearby? Is any new commercial development going on in or around the area? Is there easy access to public transportation?
Ask yourself all of these questions, and set your preferences for home buying accordingly. It’s important to know what you are looking for before you start judging a neighborhood.
We advise preparing a home buying checklist of ‘must have’ house features and ‘would like to have’ house features. This will filter your neighborhood research and simplify the process.
2) Friendly People
Once you have set your preferences, it’s time to get on the ground. Visit the neighborhoods that interest you and take a look around. Be sure to make multiple visits at different times of the day. Observe the conditions of the neighborhood during your visit.
For instance, take note of the conditions of the houses, front yards, and the streets. Does it feel safe? Don’t forget to note the traffic and speed of vehicles passing by. This will give you a fairly good insight into some safety aspects of the neighborhood.
People making eye contact with you is a sign of a safe and friendly neighborhood. So, observe people and see how you feel while you are walking around.
3) Lower Crime Rates
You don’t want to be living in an unsafe neighborhood where the crime rates are high. You can easily get to know the basic crime statistics in a neighborhood by conducting an online search. Enter the name of the city in the search box and type “crime statistics by neighborhood”, and you can expect to get some important information.
Also, read crime reports in local newspapers to get a better idea. Ask around about the safety of the neighborhood while you’re visiting. This will give you a clear picture of whether the neighborhood is safe to invest in or not.
Lastly, to get the most reliable information you can visit the local police department. They have plenty of information about the community and its activities. A good neighborhood will have a low crime rate and an active community.
4) New Developments
Another important factor to observe is any vacant spaces or new developments going on in the area. This can positively impact the property values in the neighborhood. You can get information about this by visiting the local chamber of commerce or going to city hall.
New developments could also mean the properties could appreciate in value as time goes on, which is the sign of a good neighborhood. However, while considering this factor, you must also keep in mind that the new developments will also bring with them an increase in traffic, higher taxes, and may completely change the neighborhood.
Consider all of these factors and decide whether these changes will be suitable for your family and your future.
School, shopping malls, churches, restaurants and cafes, libraries, and whatnot. It is always a good idea to live in a neighborhood that has access to all of these amenities.
Therefore, the most important factor that you need to spot in a good neighborhood is how close these amenities are. This will also give a clear picture of the local community. A busy neighborhood with easy access to all these amenities can be a sign that the community living in the neighborhood is active.
If you like being involved in the community, then this neighborhood may be the perfect choice for you. But, if you are looking for a secluded life, then you need to look to other neighborhoods.
“Still unsure of what to consider when buying your first home? Well, here is one of our recent blog posts on questions to ask when buying a home that might help.”
We hope that the information shared above would have cleared your doubts regarding what should a home buyer consider when evaluating a neighborhood while buying a house.
As you can see, the characteristics that make a good neighborhood are subject to your preferences. What might appeal to another person might be a big turn-off for you. However, certain factors like safety, amenities, and crime rates are a few of the things that you need to keep into account when selecting the right neighborhood.
If you are starting your home search, then we advise you to consider all the factors mentioned above to make sure that you find the right neighborhood where you can live happily with your family for years to come.
All the best!