Undoubtedly, the safety and comfort of your family are essential when buying a home if you are like most people. And there are other things also to consider to make the best choices. For example, just like buying a player in a soccer team, you should consider the sell-on value of the property if you later decide to sell. A home in a good neighborhood will appreciate, while the one in the wrong area will depreciate. So, you must be intentional about the kind of neighborhood your new property is located in.
But then, finding that perfect neighborhood for your real estate investment can be challenging and sometimes feels impossible to accomplish. You need to be attentive to details and, of course, willing to compromise if the need arises. The following guideline will go a long way in helping you find your perfect neighborhood.
1. What Does Your Perfect Neighborhood Look Like?
As a prospective buyer, the definition of your perfect neighborhood must be properly outlined. You should make a list of “must-haves” for your ideal neighborhood. And you should keep in mind that it’s okay if your list is different from others. Your “must-have” list should contain everything you desire for your perfect neighborhood, ranging from your children’s school distance (if you have or want to have kids) to the type of home you want, the type of neighbors you want, the traffic flow of the area, and the likes.
2. Where Is Your Perfect Neighborhood?
After writing down your desired attributes for your neighborhood, the next task is locating where this dream neighborhood is. Now, you will do well to note this. If your dream neighborhood seems far-fetched, you may need to compromise on some things. However, it would be best if you never lose focus on the main attributes of your desired neighborhood. Where exactly is your perfect neighborhood? Is it located in the high tax states or the low tax states? Is it within the country or very far? How far is your perfect neighborhood from your work, family, and friends? These are some of the questions that you need to answer as a prospective buyer.
3. Is This Really Your Perfect Neighborhood?
This is the aspect where you get a taste of what you want to buy. It is advisable that you rent an apartment right in the middle of your desired neighborhood, collecting first-hand data and experience from the community over an extended period, from within six months to twelve months, depending on the lease cycle. Doing this will allow you to ascertain whether or not the neighborhood is what you hoped for. In the case where it is not feasible for you to rent an apartment, you should consider visiting on different days and different times to understand how the community works on specific days. See how the traffic on workdays and weekends is, check the cost of living in the neighborhood, research the crime rates in the area, and check their public lives (the schools, the religious houses, the bar, the clubs).
Before moving into a new neighborhood, it is crucial to understand the kind of community you are moving your family into. Apart from the points highlighted above, you should also perform research on the Internet and conduct interviews with the former and current residents of the neighborhood to have a comprehensive knowledge of your new house and neighborhood.
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Figuring out if your buyers are serious about buying a home without having your time wasted can be difficult. Here is a list of things you can look out for when vetting buyers!