Many people put a lot of time and research into their next home purchase. Buying a home represents a significant investment of time and financial resources. Your home is a place to grow and put down lasting memories.
But whether people want to face it or not, the address of your new home matters just as much as the home’s look and layout. If your dream home is in the wrong neighborhood, you may find yourself regretting the decision for years to come. So think twice before you sign on the dotted line. Here are five neighborhood considerations you should take into account before buying.
Places to Go, Things to Do
Consider what is important to you. Are you buying a home with kids in mind? You might want access to local parks and recreation. Do you want a neighborhood that has great coffee shops and nice restaurants? Try doing a quick Google search to see what’s nearby. Real estate agencies and companies like Wall 2 Wall Media are also good resources to try.
Think Long Term
All buyers should be aware that their home is an investment. Carefully look at the market of your potential neighborhood. Are the home prices ridiculously cheap? Have there been a lot of short sells and foreclosures? These are all signs that the bottom has dropped out in this particular neighborhood. And while the temptation to score a great deal can be overwhelming, you have to consider if this is a risk worth taking.
Just a quick Google search of your potential home can reveal a lot of information. You might want to know if the home has ever housed a drug den or if registered sex offenders might be your new neighbors. A quick search on Megan’s Laws database can address many of these concerns.
Your dream house might not amount to much if you have to spend all your time commuting to work. Carefully research where the jobs are and what public transportation is available. Talking to your potential neighbors are a great resource. If public transportation is not the greatest, they may know of potential car pools.
Think About Schools
Even if you are not buying a home with family in mind, proximity to good schools is a must. Oftentimes, good schools show a stable neighborhood and a strong real estate investment for years to come.
If you approach your home search with the big picture in mind your dream home will be a reality.