One of the key aspects of buying a house anywhere is the location. The neighborhood is just as important as selecting the apartment or house itself. The area you choose to move in has to have low crime rates, it has to be affordable, and it should be easy for you to imagine making friends with the people living around you. Moreover, and this depends on whether you have kids, the location should have good preschools, high schools, playgrounds, etc.
If you’re planning to buy a home or apartment, it is important to understand that you don’t just have to consider the property itself, but also the neighborhood. So let’s see how you can go about choosing the ideal neighborhood as you look for a new home.
Make a List of Important Questions and Do Some Analysis on Your Own
It is vital to first think about all the qualities you seek in a good neighborhood. In your mind what constitutes as a good neighborhood? Understand that it isn’t just you that is going to be living in your new house. You have to consider the needs and well-being of your family as well. So ask questions such as:
- Would you prefer a busy area or some place that is nice and quiet?
- Would you prefer walking or do you need certain amenities?
- Do you want to live in a greener area, with trees, parks and a good flora and fauna?
- Should your house be close to restaurants, malls and hospitals?
- Do you have to move in to a newer development or are you fine with an older neighborhood?
- Do you prefer privacy or a well-knit community?
As you think everything through, these are some important questions to dwell on. Moreover, it would also help if you consult your spouse and children as well (if they are older). For example, if you have school going kids, would prefer to have separate cares or would you prefer public transportation? After you develop a realistic picture of the type of neighborhood you wish to settle in, mentioned below are some other important factors to consider.
Keep Your Month-to-Month Budget in Mind
One of the key factors to consider in selecting a good neighborhood is your monthly budget. Depending on what your monthly expenses are, some neighborhoods may either be too expensive or affordable. The first thing you need to consider is property tax. The amount of taxes in this category primarily depends on the location itself. For example, a posh or gated community may have a comparably higher property tax rate than a more common locale. Don’t forget that property tax rates increase with time, further adding to your monthly expenses.
See if the Local Lifestyle is in Line with Yours
Nothing is more important than moving into a neighborhood that is in line with your current lifestyle and will continue to augment your future lifestyle. You have to figure out what type of a community would be more comfortable in. For example, would it suit you to move into a modern and lively single-family neighborhood or a family-friendly and private area?
The best way to determine that is to first take a long drive along the neighborhoods you have shortlisted, try to get a sense of how the people are. In addition to getting a feel for the community, there are also some immediate factors to consider such as whether or not the area has a good school district, how the local transportation is, the commute times, etc. You could even easily do an online search or just discuss this with your real estate agent.
It isn’t that hard to buy a house or apartment, but what can be difficult is selecting the right neighborhood. Keep these points in mind before jumping the gun and buying a house. In many ways a neighborhood is an extension of your immediate home and it deserves proper consideration.