When you’re looking for a new home to buy, one of the most important factors is the neighborhood in which the home is located. It can be challenging to determine what neighborhoods are better than others, but here are our tips regarding how to choose a neighborhood:
The most important factor about choosing a neighborhood is location. Your neighborhood’s location determines the safety, affordability, proximity to schools and work, et cetera. You can never change your home’s location, so make sure the neighborhood you are choosing is in a location you can live in for a very long time.
Some neighborhoods are naturally pricier than others and have increased home prices. When you’re shopping for a home, ask your real estate agent to only show you homes in neighborhoods you can afford. In order to know how much you can afford, you will want to have your home pre-approved by a mortgage lender so you have a ballpark estimate of your financial situation.
What school your child attends is largely determined by the neighborhood in which you reside. When you’re choosing a home, you will want to make sure it is located in a neighborhood that has ideal schools for your children.
Just as there are different types of houses, there are also different types of neighborhoods. Some neighborhoods have more of a community-centric feel, while others seem to be very distant and spread out. You may or may not have a preference between a suburban, urban, or rural neighborhood that you will need to take into account when shopping for a home. The type of neighborhood you choose also determines involvement in terms of whether or not the community is gated, if community events are planned, or if there is a neighborhood watch system in place.
Ultimately, you want to ensure that the neighborhood in which your home is located has a high resale value. This means that if you needed to sell the home, you wouldn’t have a problem as a result of the neighborhood in which it was located.