If you want to follow the old adage, “location, location, location” you will want to carefully choose the community first. So what should you look for in the community?
First, you will want to take notice of the pride of ownership in the community, as well as the homes themselves. You will want to look at how well the homes and the yards are maintained in the neighborhood, and you will also want to find a city that overall demonstrates a community pride for their town.
Even if you do not have children, you will want to pay attention to how well the local school system is rated. This will help when it comes to selling your home. Many potential buyers will be concerned about the strength of the school district and what type of schools their children will attend. If you are looking for a house within a great school district, people will often pay a premium to get into a better school district.
When looking at the neighborhood in terms a value, you will want to make sure that you are buying a house that is not too expensive or too large for the value of the surrounding homes. A good strategy is to look for the smallest or worst home on the best street in the neighborhood. This will often equal to a good price for that neighborhood and a chance for the homeowner to makes improvements, bringing up the value. Homes in a particular neighborhood should also be about the same size and style so that property values are about equal as well.
Look for homes that are not adjacent to a busy street. This will often cut the value of the property by as much as 10%. And if you are buying a single family home, you want to look for a place that is not next to apartments, businesses, schools, or parks. Another situation to avoid is being on a street that is used as a shortcut between two busy streets.
If you have children, you will want to stay away from corner lots. They attract more traffic and are not safe for children playing in the yard. And ideal spot is in the center of the neighborhood or tucked away on a cul-de-sac.
Considering these tips when buying a home will help you to find not only the best home, but the best neighborhood.
The Home Buying Process:
Types of Resale in Today's Market:
Taxes, CDD, HOA, and Homestead:
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