Assisting Transitioning Military and the
Family Members Who Support Them
WATCHRelocation
BUYING A HOME - CHOOSING A NEIGHBORHOOD
As you begin your house hunting, your first step will be to narrow your choice of suburbs or neighborhoods. Don't overlook the matter of commuting time as you decide. For a few days, drive to the areas you are considering to judge the commuting time and route choices. Attending open houses is a great way to get a feeling for prices and neighborhood and to tour the areas that interest you most. Don't hesitate to visit even if you're not ready to buy. Community practices vary in open-house etiquette among brokers. If you are working with one agent, discuss frankly the best way to visit open houses on your own when he or she is not available.
Neighborhood affects value. A house costing $600,000 in Beverly Hills might sell on a comparable lot in the suburbs of Dallas for $150,000. The three most important factors to consider are: Location, Location, and Location. Location is not as critical in smaller communities or in rural areas as it is in larger ones, but it still may affect resale value.
From a buyer's perspective, location preference is very personal. The classic advice has always been to buy the modest house on a more expensive street. Such a house is typically easier to resell, and its value will hold up well, for there are always buyers eager for the prestige of that particular neighborhood. A home near schools will appeal to families with young children, but may not be preferable for childfree couples, older couples or single homeowners. Homes near parks will typically be more appealing than homes near busy streets. Decide on what is important to you and your family and share this with your real estate professional.
Before you decide on a neighborhood, pay attention to the trend in that area. One that's on its way down could pose real problems when you want to resell. On the other hand, an up-and-coming area can prove to be a good place to invest. Look at the exterior of the homes. Are they run down, in need of painting, maintenance, window replacement, and roof replacement, with junk cars in the driveway? Or do the homes show "pride of ownership"? Local police can give you statistics on whether crime rates are rising or falling in a given area. You can also learn a lot about the schools by visiting them or attending a PTA meeting.