If you’re finally ready to give up on the renting game and buy a home of your own, it’s crucial to look beyond the property itself and consider the neighborhood you’re investing in as well.
Unfortunately, if you decide to buy a home located in a lousy area, the value of your property will decline along with the value of the neighborhood.
In order to avoid this, there are key red flags you’ll need to keep your eyes peeled for; dilapidated and neglected homes, shabby curb appeals, shabby roads and walkways, and lousy schools and amenities are all neighborhood red flags.
And while you’re staying vigilant for red flags, we’ve listed five positive elements that a great neighborhood should boast.
1. Transport And Convenient Location
Most of us tend to spend a fair amount of our daily lives traveling, whether to work and back, the grocery store, the mall, or out for dinner. For this reason, it’s essential to invest in a neighborhood that boasts accessible transport, even if you drive your own vehicle.
In addition, it’s also wise to opt for an area that’s conveniently located; it should be easy for you to get to work and back, and all relevant amenities you need should be close by.
2. Sought-After Schools
Another green flag for a renowned neighborhood is the presence of sought-after schools. Whether it’s a primary school, a high school, or even a university, sought-after schools typically reside in higher-class areas.
Moreover, if you have children or plan to have children in the future, it’s also wise to choose a neighborhood with excellent schooling facilities in the area or nearby.
3. Stellar Curb Appeal
If all properties within a neighborhood boast charming curb appeal, it’s highly likely area value is high. Curb appeal explains the overall look of a property from a street view, so be sure to drive around a neighborhood and investigate the outer appearance of all the homes when viewing properties.
4. Few Properties For Sale
Unless you’re interested in a new development neighborhood or ongoing development area like homes for sale in Wickenburg, AZ, neighborhoods with tons of for-sale signs are best to avoid.
If you notice a large number of properties are up for sale in an area, it might tell of declining area value or other issues like rising crime rates.
5. A Tight-Knit Community
It’s more than a perk to live in an area where neighbors are friendly and welcoming; a tight-knit community also acts as a form of security and a safety net for emergencies.
When viewing areas, keep an eye out for friendly neighbors and find out if there is a community security watch group or other community groups; this will convey a tight-knit community.
There are so many critical factors to consider when house-hunting, but while most house hunters focus on analyzing candidate properties, it’s vital to evaluate the neighborhood. So, be sure to consider the elements of a great area listed above when choosing a property to invest in.