When you’re looking to buy a house, there are a series of factors to consider besides the price and state of the property. For instance, the quality of the neighborhood is essential, especially if you plan on setting down roots and having children.
Still, when you’re worried about funding and trying to stay afloat with everything there is to do even before you start seeing houses, it’s easy to miss some of the aspects involved in finding the perfect neighborhood.
But don’t worry! Once you catch on a few tips and tricks, it’s quite easy to appreciate an area at first glance. Here are a few of the things that indicate either a well-developed community or one that’s up-and-coming.
Not That Many Offers on the Market
When you lock onto a neighborhood, do a quick check of the number of available offers. If it seems like you’d be spoiled for choice, you better get a better look at the area. In the real estate world, if there are too many offers on the market, it usually means that people are fleeing the area and not enough people are willing to move there.
Of course, if it’s a rather new neighborhood, with new constructions and houses still being built, then the situation changes. Still, if the neighborhood is good, people will be rushing in to buy as soon as possible.
There’s also the option of an up-and-coming neighborhood with undiscovered (yet) potential. These are a bit tough to spot, but if you have a tip from a reliable source, it’s worth taking a second look.
Still, make sure you get a fair price on the house and don’t skip on the required inspections (especially the safety and electrical inspections).
If you don’t feel like you have the knowledge or experience for this, it’s best to hire a qualified agent. Luckily, you can use a platform like PrimeStreet to find the right agent for your needs, whether you’re buying or selling your home.
The Local Economy Looks Good
Take a stroll through the neighborhood and make a mental note of what you see. Are there many run-down business spaces that used to house small businesses? Are most people in the area employed by one or two large employers? Are there businesses looking to hire more people?
A well-developed neighborhood or one that’s about to flourish provides lots of opportunities for small and medium-sized businesses. Also, people can work on their passion projects, such as artisanal breweries, small patisseries, or coffee shops.
It’s Walkable, and There Are Spaces for Outdoor Activities
How do you feel being outdoors? Do you see people jogging, walking, or having a chat on a park bench? Is there enough room to move around on foot or do you have to do anything by car?
Also, look for signs of kids playing outside in public spaces such as parks or playgrounds.
Neighborhoods where people have the space to move around, play sports, walk their dogs, and socialize, are safer and better for your health. Also, if the kids can get together with their friends in the neighborhood and fool around in a dedicated space that’s not someone’s backyard, it shows their parents see this as a safe area.
In Summary
A good neighborhood is easy to spot if you look for small businesses, available jobs in the area, and walkable streets. While taking a stroll, you should see people walking, running, talking, and overall enjoying being outside and socializing.
If the neighborhood is up-and-coming, you should see various construction projects (active), new businesses coming to the area, and options for entertainment planned for the near future. Overall, look for signs of growth and projects focused on encouraging a sense of community and safety.
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