What is the most important factor when it comes to choosing a neighbourhood? It is a common word often thrown around known as location. Yes, geographic location plays a significant role when it comes to choosing a neighbourhood, however, amenities, one’s budget and other distinctive features that fit each buyer’s desire is also important. Consider the points below when choosing a neighbourhood to buy your next home.
Affordability
Location is a heavy influence on the price of property. Yes, it might be fun to look around in neighbourhoods which are way beyond your budget; however, you must be realistic and look at neighbourhoods that are affordable and within your .
What is Next Door?
You must consider what is next door when choosing your neighbourhood. Are their single houses, family houses or big apartment buildings? Additionally, you must pay attention to warehouse properties or developable lots next to the property you are planning to purchase.
Schools
If you are a parent, one of the most important factors to consider is schools. It will only help you in the long run if your kids are able to go to schools closer to the geographic area you reside in.
Economy
How is the economy in your potential neighbourhood? Is your local neighbourhood booming? Take a firsthand look at the economic health, because a healthy economic neighbourhood will only boost your chances of residing in an area where property value is raising every day.
Commuting
Does your neighbourhood have much traffic? Is there easy access to commuting? What about getting to work during rush hour? Avoid visiting the neighbourhood on a weekend, and instead drive up on a weekday to gauge commuting and traffic. Ask yourself if this is a journey you would want to make twice a day.
Learn the feel and pace of the neighbourhood by walking around. Spend time during a work day and determine for yourself if it is a ghost town or a bustling city. Do background research so that you can paint a better picture of how real life will look like in your new neighbourhood. What is your first impression? What do the streets look like? Are the houses appealing? Birds and nature are usually pleasant. But if you have to do with the hospital, airport, train tracks or the highway it is not very relaxing.
Talk to the neighbours to get a real feel of the place. Talk to regular people who may be willing to give you better information than the people just trying to sell you their home. Once you’ve chosen your neighbourhood you can draw a vision of your dream home. Find out how much you can truly afford to pay and determine the amount of money you can request as a loan or mortgage. Finally, you can compare loan options and decide which option is most suited to you.
Guide to Choosing a Neighbourhood
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