Choosing the Right Neighborhood for Your New Home
Buyers spend a considerable amount of time in checking online for their dream home within their budget. Few people spend time on knowing the neighborhood of their prospective homes. When buying a home whether for resale or for your permanent address, make sure to check for the neighborhood. In this article, we will discuss how to choose the right neighborhood for your new home.
- Crime and safety: Crime and safety in the neighborhood are very important. To know the crime information of that area, search online using search engines such as MSN, Yahoo, Google, etc. You can find the relevant information for the area or community.
- Transportation: Most communities are designed around town center concept. This enables residents to walk to shops, restaurants and to workplace. Homes located near popular commuter routes and subway stations are costlier than the homes at far off places.
Check for time taken to commute to your workplace. Check also for route navigation, public transportation alternatives, taxicab fares, transit stop distance and other personal requirements. Ask the realtor if there is anything available for low cost with these facilities.
- Schools: Check for schools in the neighborhood. This will help you send your kids easily and save time. Even if you do not have kids to educate or do not plan for kids, schools in the neighborhood are a positive aspect. This is because it will add considerably to value of your home. In a nationwide survey conducted by Redfin in 2013 shows that Americans pay $50 more per square foot to homes that have top ranked schools in neighborhood than average ranked school.
- Taxes and property values: Check out the current tax rates in the area and whether any changes in the tax rates in past five years happened and any increase, that is expected.
Check out the present value of the houses in that area and average values in the past five ten years.
Check for any development in the past five to ten years in development plans in the future.
These developments are likely to lead to hike in taxes and the value of the house may change accordingly.
Choose a suitable neighborhood for your new home. Choose one based on your preferences such as anonymity, newer development or older neighborhood, proximity to restaurants and shopping, parks, walking to amenities, busier active area or quiet streets, etc. Make sure to research well and take professional help if you think you are not sure.