If you’re planning on buying a new home, keep in mind that you’re not just buying a house, you’re investing in a neighbourhood. You need to ask yourself what the most important features of your ideal neighbourhood are.
A few questions to ask yourself buying a new home:
- Do you prefer quiet or busier streets?
- Do you refer to have amenities within walking distance?
- Are you looking for a more established neighbourhood or a newer modern area?
- Are you looking for a tight-knit community or one with more anonymity?
Things to do before buying a new home:
Research: Check the “crime statistics ” of the areas you are considering and take a drive around looking for graffiti or vandalism. Take note of the condition of houses, front yards, streets and sidewalks.Check for vacant lots or abandoned buildings as both could be used for commercial development which could easily change the feel of the neighbourhood and impact your property value.
Check Commuting Time: How long will it take to get to work? Will you be going with or against traffic? Is the route easy to navigate? Are you willing to commit to the commute?
Research Schools: If you have children, this is probably the first consideration when looking for a good neighbourhood. Consider how your child will get to school and if there is public transportation available?
Current Value: Find out what houses in the neighbourhood are currently valued at then find out how that compares with the average value years earlier. How much has the property increased? Has the neighbourhood changed? Check the current tax rate and how much it has increased in the last five years. Ensure to build this amount into your moving budget.
Future Development: Future developments change a neighbourhoods feel.It’s a good idea to investigate the potential of the neighbourhood then decide if that outlook will be suitable for you and your family.
See also: Home Selling Guide: Pay Attention to the Paperwork