Where you live should reflect your lifestyle. To ensure you find a community that meets your needs, consider the following questions.
Keep in mind: Federal fair housing laws prohibit real estate agents from steering you toward or away from specific neighborhoods. However, they can direct you to helpful resources that provide answers to your key questions.
Is it close to my favorite spots?
Start by making a list of activities you frequently enjoy and stores you visit often. Then, check how far you would need to travel from the neighborhood to reach these places. A convenient location can make daily life more enjoyable and stress-free.
Is it economically stable?
To assess the financial health of a neighborhood, check with your local economic development office. Look for indicators such as stable or rising household incomes and property values. Additionally, consider the ratio of owner-occupied homes to rentals—while apartments don’t necessarily decrease property values, they can suggest a more transient population. Also, take note of vacant businesses or homes that have been on the market for an extended period, as these may signal economic challenges. Lastly, review local news sources for any upcoming developments that could impact the area’s economic future.
Is it a good investment?
If you're working with a real estate agent, ask about historical price trends in the neighborhood. While past performance doesn't guarantee future results, it can provide insight into the area's price stability and growth potential. Additionally, your agent may be aware of planned developments, such as new schools or highways, that could influence property values in the future.
Do I like what I see?
Once you've narrowed down your options to two or three neighborhoods, take a drive or walk around to get a firsthand feel for the area. Observe key details: Are the homes well maintained? Are the streets quiet or lively? If possible, visit on a pleasant day and strike up conversations with residents who are outside. Their insights can provide a deeper understanding of what it’s like to live there.
Is it safe?
To evaluate neighborhood safety, contact the local police department for crime statistics. No area is completely crime-free, but focus on the types of crimes reported and whether crime rates are increasing or decreasing. Pay attention to crime trends and which parts of the neighborhood are most affected.
What’s the school district like?
Even if you don’t have school-age children, the quality of local schools can impact property values. Reach out to the local school district for information on test scores, class sizes, the percentage of students who attend college, and available enrichment programs. If you do have children, visit schools in your preferred neighborhoods to get a firsthand look at the facilities and learning environment.
How will I get to work?
For those who commute, transportation options are an important factor. Consider the availability of public transit, potential tolls, and overall travel time to work. These factors can significantly affect both your daily routine and long-term satisfaction with your location.
By asking these questions, you can make a well-informed decision and choose a neighborhood that best aligns with your lifestyle, financial goals, and future plans.
