If you're on the hunt for a home, then you know that there are a number of things you must consider before making an offer. One big thing to consider is the desirability of the neighborhood you'll be moving into and how purchasing a home in the area can impact you in the future. To avoid buying in an undesirable neighborhood, consider the three tips below.
1. Visit the Neighborhood at Different Times of Day
If a homeowner is looking to sell but they have particularly loud or otherwise bothersome neighbors, it's likely that they'll only offer showings during times where disturbances are less likely to occur. This makes it important to visit any potential neighborhoods during different times of the day to get a more accurate feel for the neighborhood's true vibe.
If you had a showing for a potential home at eleven in the morning and you absolutely loved the quiet, serene neighborhood, consider visiting after work or late in the evening. While you'll never be able to avoid usual noises associated with daily living, you may be surprised to find the neighborhood is home to a lot more party animals than you initially believed. It's also not uncommon to ask the homeowner for a second viewing if you are interested in the home. When setting up the second viewing, be sure to request a different time of day. If the homeowner hesitates or outright refuses, it may be time to seriously reconsider.
2. Do Your Research on Neighborhood Foreclosures
Many people are still struggling to bounce back from the last recession, so it's not uncommon to see foreclosures. And, while you shouldn't let foreclosures be the deciding factor, it is important to consider that they could bring down your home's value in the future. So, what kinds of research can you do to ensure that you aren't buying a home in a declining neighborhood?
First, search online for foreclosed homes in the neighborhood you're looking to buy in. A high number of foreclosures is definitely a red flag, but it shouldn't be the only thing to consider. Second, do a quick inspection of the foreclosures in the neighborhood. Are the homes kept well, or is it obvious at first sight that they're foreclosures? Foreclosures that are unkempt or obviously abandoned can draw the wrong kinds of activities, so be sure to spend a bit of time checking out the neighborhood's foreclosed and abandoned homes. Third, consult with your real estate agent. Your agent likely has a bit of insider knowledge on the neighborhood you're considering, so they may be able to provide you with information that will help you make your decision.
3. Consider the School District
Even if you don't plan to use the local public school district, you'll want to consider how the neighborhood schools will impact your home's resale value in the future.
If you're buying a one bedroom home, for example, it's very unlikely that anyone with children would be interested in buying. This means that the local schools may not have that much effect on your home's resale value. If, however, you're buying a home with enough space for children, then you must keep in mind that parents will likely be part of the applicant pool in the future if you ever decide to sell. Do your research on the school district that any potential homes will be zoned for, and seriously consider whether a declining school district will have much impact on your home's resale value.
To find a home you'll love in a thriving and vivacious neighborhood, consult with an experienced real estate agent like RE/MAX EXECUTIVES PLUS.
Searching for a home a hundred miles away from where I was previously living was hard. There was no way for us to take a trip up to see every single house that we found online to see first-hand the condition that it was in and how big it truly was. I had to find a real estate agent that I could trust to help us find several houses to make a trip up to see in a single day. I created this blog after going through the buying process and making the move. It is my hope that if you are buying a new home far from your current one, that the tips here will help to make it an easy transaction for you.