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How to Choose Your Neighborhood

KEY CONSIDERATIONS IN CHOOSING YOUR NEIGHBORHOOD

Where do you want to live? The answer depends on your wants, needs and your budget.  Think about your current lifestyle, the amenities that are most important to you, and the kind of community you want to be a part of.

For many people, the community they live in is just as important as the actual house itself.  Since every neighborhood has its own assets and liabilities, start with the basics.  Your REALTOR can search for homes in those neighborhoods that you find desirable and would feel comfortable in.                                                    

What types of neighborhoods appeal to you? Do you prefer quiet suburban communities, downtown city living or a rural country setting? Each is unique and has its own advantages.    Being realistic about your needs and the characteristics you desire in a community are important in identifying the areas you want to live in. Based on this information, your REALTOR can arrange for you to look at homes in those communities that appeal most to you.

Locating the ideal neighborhood can be time-consuming, but is an important part of the process.    Key Considerations in Choosing a Community...


Location, Location, Location!
You may have heard the classic adage...buy the modest home on a more expensive street. Doing so, generally results in better resell potential later on and they hold their value well. So, be sure to consider the location of your home carefully.   In considering the right community for you, if may be helpful to drive and walk through those neighborhoods at different times of the day, at night and on weekends, to get a feel if it's a neighborhood you want to live in.   Look carefully at how well the homes are maintained, the noise levels, traffic patterns and overall neighborhood activity.  

Neighborhood Trends Pay close attention to what's going on in the neighborhood. If the neighborhood is going downhill, buying a home there could pose problems later down the road when you want to sell. On the flip side, if it's in an up-and-coming neighborhood, buying a home there could be a smart move.  

Commute Time and Proximity Take into consideration proximity of the neighborhood in relation to other key areas of your life.  Is it important to be close to Schools? Family? Friends? Work?      

Amenities In the Area Think about the amenities available in the community.  Is it important that you can walk to a local carryout or grocery store? Do you want to be close to parks and schools? Are there shopping malls and recreation centers in the area?   These are all important questions to ask when deciding on a neighborhood. Your REALTOR can provide you with information on the amenities available in each community.  

Neighborhood Demand Look at the neighborhood demand by asking your REALTOR whether the gap between the list price and sale price is decreasing, what the average sales price over the last several years has been, the number of homes currently on the market in the area, the number of homes that did and did not sell in the neighborhood, etc. Your REALTOR can provide you with valuable information to help you determine if a neighborhood is the right one for you.   

Profit Potential Looking to the future, most homeowners decide to sell at some point. In order to protect your hard-earned dollars and your investment...Your Home...you want to make sure it has profit potential. Therefore, when evaluating a neighborhood, you have to evaluate the resale potential of the homes there   A stable neighborhood, where property values at least remain stable, is generally a good choice.  A neighborhood where property values are on the rise is even better.    Consider neighborhoods with a high percentage of owner occupants, a small number of renters, good proximity to a variety of shops and stores, a shorter than average timeframe for homes to be on the market before selling, convenient commuting options to metropolitan areas, etc.   In general, look for are stable or may be "Hot" in the next few years. Although there is no crystal ball to see the future, your REALTOR can provide general information about the potential resell value of a neighborhood.   

Other considerations include:

  • Quality of schools
  • Traffic
  • Crime rate
  • Future construction
  • Proximity to parks, schools, work, hospitals, shopping centers, grocery stores, banks, public transportation, prisons, airports, freeways, and cultural centers

You want a community that you can feel good about and call home, and one that buyers will want to live in when you are ready to move on. 

 

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If you or someone you know would like information about buying, selling, or renting a home in Prince George's, Montgomery,  Charles, Calvert, Anne Arundel, Howard, and/or Baltimore Counties please contact Dr. Stacey-Ann Baugh of Century 21 New Millennium.

 

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Dr. Stacey-Ann Baugh

Century 21 New Millennium

www.LiveinPGCounty.com

staceyannbaugh@gmail.com

240-481-3565 (C)

202-546-0055 (O)

 

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Comment balloon 1 commentDr. Stacey-Ann Baugh • November 13 2009 02:24PM

Comments

Thanks for the re-blog Stacey.

Posted by Jody Deeds, "Helping You Move On With Your Plans" (Key Realty, LTD) almost 9 years ago

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