What to Look for in a Neighborhood

Many Realtors will tell you that location is everything when it comes to choosing a home. When evaluating location, neighborhood is key. Consider the following factors when determining if a certain neighborhood is right for you:

Priorities. Determine what exactly you're looking for during your home search. What's more important: the house or the community? Chances are, budget restraints may leave you no choice but to compromise on one or the other. Be realistic about finding  a home with desired qualities in the best location based on your budget. Would you like to live in a city, suburb, or rural area? What amenities are most important to you? For example, how would you prioritize a neighborhood gym, pool, restaurants, shopping, or nightlife?

Schools. Everyone knows that, for those who have children, living in a highly ranked school district is favorable. What everyone doesn't know is that school district is also important to homebuyers who don't have kids. Why? they maintain higher value. Americans pay $50 more per square foot for homes near a top-ranked school than for home near average schools, according to a research study completed by Redfin Real Estate Company in 2013.

Transportation. Test your commute to work from various neighborhoods you're considering moving to. Note how close you are to public transit options and town centers that feature restaurants, shops, and entertainment. Similar to school district, transportation is important for resale value. In other words, even if you don't mind being far from amenities or transit, future buyers will likely value properties close to such features more so than those that are far. Unfortunately, you can expect to pay more for homes that are close to the city center and/or public transportation. If such a location is important to you, be prepared to compromise on the size, age, or condition of your home.

Finally, visit the neighborhoods you're interested in at different times of day, during different days of the week. Take note of home maintenance and community gatherings. If possible, talk to people about what it is like to live there. Realtors are qualified to help you find the best location based on your wants (and your budget). For those looking at homes in the Central Ohio area-contact me. I can help!