House
Hunting When Buying a Home, Consider the
Neighborhood
Choosing a neighborhood is a big decision for homebuyers, and the
considerations are as varied as the many different types of
homeowners. Some of the issues buyers might consider are: the
quality of the local schools, commute time to work, proximity to
shopping districts and cultural areas, the area crime rate, and
public services.
Unfortunately, the better neighborhoods also tend to be more
expensive. Savvy buyers, however, can find a good deal on the
fringes of those well-to-do neighborhoods, as they will ride on the
coattails of the nicer neighborhood. The neighborhood should also
include more potential buyers than homeowners looking to sell their
homes.
The best tool to finding a nice neighborhood is research, which
involves talking to residents of potential neighborhoods and
visiting those communities quite frequently. When considering a
neighborhood, potential buyers should also read the local papers and
talk to the local police department about recent criminal activity
in the area and historical patterns of wrongdoing. Finally, buyers
should take into account the projected value of the properties of a
neighborhood before investing in it.
"Shopping the Area: How Do I Select A Neighborhood?," Inman News
Features Online (02/21/00); Hymer, Dian