Maybe you’re a longtime local looking for a change. Or, you’re an out-of-town buyer who has a bit to learn about the area. Either way, these questions to ask yourself when considering a neighborhood can have a big impact on your quality of life. Don’t make an offer without running through them first!
Will you be dealing with a Homeowner’s Association (HOA)?
Opinions on HOAs can be mixed. Some love how they ensure that home values stay high in the neighborhood with regulations in place. Others think they can be a little overbearing.
They will also come with additional costs, so you should keep the financial aspect in mind as well. When perusing a potential neighborhood, be sure to ask whether there is an HOA and if so, how that specific HOA operates.
What is the neighborhood close to?
Proximity can be a big advantage—or disadvantage, depending on what’s near your neighborhood.
Grocery stores, schools, and great downtown areas are all a plus. Sewage treatment plants, livestock farms, and highways, on the other hand, can ding your property value—and make life a whole lot more stressful.
It’s always wise to take a drive around the area, just to see if you’ll like where you’ll be living.
What are the schools like?
Speaking of schools—they’re one of the questions to ask yourself when considering a neighborhood. What schools is the neighborhood zoned for, and what are they like?
You don’t even need to have children to benefit from a great school system. The better the education, the higher your home value will be—and it could even make it easier to sell in the future.
Is it safe?
Some neighborhoods are safer than others. Buying a home is a big investment—and you will do yourself a disservice if you don’t determine how safe the area is.
If you don’t know where to start, call the local police departmentand ask them about safety and crime rates.
Is it new construction or an established development?
New construction neighborhoods may be in the development phase for months or years to come. While they offer the advantages of a brand-new house, you may find the construction distracting or overwhelming.
Meanwhile, established developments likely will not have the same level of activity. As a drawback, they may need updating.
How do the other homes look?
The appearance and value of surrounding homes can impact your house’s property value. Take a little time to drive around the neighborhood. You can also look up estimates on nearby homes online.
Summary
The homebuying process can be confusing. Even with these questions to ask yourself when considering a neighborhood to help, you’ll benefit from having expert guidance. That’s why it’s so important to hire a skillful, experienced Realtor who knows the area inside and out.
Well, our members fit the bill! Contact the Lee County Association of Realtors to begin. As for learning more about how to navigate the market, browse our blog here.
