Five years ago, it was easy to tell a good neighborhood from a bad one.
All you had to do was conduct a quick check on nearby schools and keep an eye out for hopelessly abandoned properties. If the schools were good and the homes well-kept, the neighborhood, and your future home, were keepers.
Today, though, determining whether a neighborhood is good and will hold its value isn’t so easy. The suburbs, once the Mecca of homebuyers with kids, now outrank urban city centers in terms of poverty.
So how can you tell if you’re buying into a neighborhood you’ll like and, just as importantly, will likely hold its value until you’re ready to sell?
Over the next week or two I am going to go over how many first time homebuyers decide if a neighborhood is fit for them or not.
Todays theme is Create Your Dream Neighborhood.
These days most homebuyers know exactly what they are looking for in a home before they even go out to talk to a Realtor.
They’ve already planned out how many rooms and bathrooms they need, large rooms for entertaining, a brand spanking new kitchen that shines of stainless steel and so much more.
The images in their heads are vivid and they are excited to go out and see what is out on the market.
However if you were to ask these homebuyers what they would like in their neighborhood they give such cookie cutter answers. I have no idea how many times I’ve heard, “good schools you know, near shopping, and etc.” but I’m sure its more than I’d like to count.
Which got me thinking, wouldn’t it be nice to help these homebuyers find neighborhoods that fit their lifestyles and their needs? I mean most homebuyers plan to live at their home for about 5-10 years on average, wouldn’t it be nice to actually enjoy the area you live in?
Heres a great idea check out Walk Score. Many homeowners like to walk around their neighborhoods, meet their neighbors, walk to shops and nearby restaurants.
This is a great resource where you can find out how close a potential property is to nearby essentials like coffee, groceries, shopping, schools, and parks.
Or maybe you want to live in a historic neighborhood? Do you want to be in an exciting college town or in a more sedate, family-oriented environment?
The lesson to take home today is to write out your list of wants so you know what to look for when you go out with your Realtor to tour homes.
The best way to find great deals on homes is to take a tour of 5 to 6 homes in the area you are searching in. Not only will you find older listings that are easier to negotiate on but you will also become a market expert at the same time.
As you see more and more homes you will realize what kind of homes are available for the price points you are looking at.
To schedule a tour like this visit our Contact Page and send me an email or give me a call! I look forward to working with you.
Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction.
* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Real Estate Blog *