What to Look for in a Neighborhood
Choosing your neighborhood is almost as big of a deal as choosing your home. A neighborhood has a big affect on the home’s value and the potential to sell the home in the future. Here are some things to consider when choosing a neighborhood.
Feeling safe in your neighborhood is a top priority, and while there is no guarantee with any neighborhood, do your homework and be diligent about looking up the crime rates on each neighborhood you are interested in. With Neighborhood Scout you can find the lowest crime neighborhoods in a city and even compare crime rate to neighborhood crime rates nationwide. Most of the information available on Neighborhood Scout is free, but the extra data reports are available with purchase. When you are making an investment as large as a house, don’t skimp – pay extra for the comprehensive report on your neighborhood.
Living in a neighborhood zoned for a highly rated school is important if you have kids, but it is also means that your property value will be higher due to the high demand of families looking to live in that neighborhood. When researching neighborhoods, use a resource such as Greatschools.org to find ratings and parent reviews. While there are many benefits to living near a school, don’t forget to drive by the neighborhood at the beginning of school and when school releases for the day so that you can see what the traffic would be like if you lived there and how it would affect your commute.
- Shopping and restaurants
Being able to walk to your favorite coffee shop or restaurant is not only a nice amenity, its one that people will pay for. According to the Business Insider, homes that are close to a Trader Joe’s or Whole Foods grew more rapidly in value. Take a stroll around your prospective neighborhood and take note of any Trader Joe’s or Whole Foods you see, but don’t discredit other grocery stores either- having any grocery store near you when you are missing that last critical ingredient will never backfire on you.
Not just recreational parks- dog parks also play a factor in a great neighborhood. Parks not only attract families to the area, they also provide that much-needed patch of nature in the middle of a concrete jungle. Just be aware that not all parks add instant value. Visit the park in person and check it out- does no one in the neighborhood use the park? Is the playground equipment old and rusted? Visiting the park in person also gives you a good opportunity to talk to any neighbors at the park. Don’t hesitate to get their opinion on the neighborhood and the park itself.
Sarah & Tim
Florida Life Real Estate Group