Buying a home requires a thorough evaluation of the house itself, and the surrounding environment. The surrounding environment, or neighborhood is a major part of the investment made when buying a home. Buying a home in an up-and-coming neighborhood is one of the best investments one can make. Investing in an area that is on the rise rather than an area that is already thriving will give a bigger return on investment.
When searching for a home there are many variables to take into account when looking into the neighborhood from the school systems to the crime rate. Here are some things to look for when research a neighborhood:
- Taxes and location based expenses: People often forget about expenses separate from the price of buying the home. Be sure to check the property taxes, any association fees, and any other expenses that may arise.
- Area rules and laws: Every association and town has different rules and laws that should be brushed up on.
- Crime rate: There are numerous websites allowing people to view crime rate statistics in a zip code. Look up the crime rate of the areas you currently live in compared to the places you are looking to move and see how they stack up.
- Schools: School systems are a crucial element in the home buying process. See if the area has preschool to high school public and/or private schools. Schools aren't only important for families, having a good school system will help with the resale of the house.
- Amenities: Amenities including, shopping centers, grocery stores, and so on might be areas you need to travel to often, so how far do you want to travel to get to these places?
- Commute: How long will it take to travel to work? How long will it take to travel to see relatives? Use an online mapping website to see how long the commute will be to the places you need to travel to regularly.
- Sights, sounds, and smells: When at the house see how loud the environment is. Is there traffic? Does it get louder at night? Also study what sights you'll have from each area of the house. Lastly check the smell of the area, does a local store have scents that travel to the house?
Remember even if some of these variables don't impact you, always think about the future. Someday you'll sell your house and things such as, the amenities and school system may be more important to someone looking to buy the house from you. Overall remember a house is an investment, so do research and plan for the future.
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