Where to live? Where to set down roots?
Buying a home is a very personal decision, but it’s also a huge investment. For many people, a home is one of the most important investments they will make. It’s important to research each neighborhood to better understand the market trends and property values.
How will you choose where you will wake up each morning and where you will come home to at the end of the day? Perhaps where you will raise children, plant a garden, attend a block party. Where will you commune as in “community”.
The tangible real estate (land plus “bricks and mortar”) is only one aspect of what you purchase. It’s the intangibles like community, neighbors, schools, recreational facilities, convenience, transportation, shopping and nightlife, tranquility or excitement and the feeling of safety and comfort that really make us happy.
This is such a personal decision that not only is each of my buyer parties unique in their needs and desires, but even partners within a party may not agree on what is important. So, I recommend that you begin by making a list of the things that are important to YOU. Here are some things to consider:
Lifestyle: Before you even begin house hunting, consider your current lifestyle and needs. What is your current way of life (or what do you aspire to) and will the neighborhood support it?
Amenities and Conveniences: Take time to explore each neighborhood you’re considering and identify the nearby amenities and conveniences.
Commute Times: Ask yourself how you plan to get around. Will you be driving, walking or taking public transportation to get to and from work and other activities?
Schools: If you have, or are planning to have children, schools could be a major determining factor in your neighborhood of choice.
Market Conditions and Affordability: For most buyers the ultimate decision comes down to affordability and a compromise to get the most for your money.
Some other questions to ponder
- Are property values on the rise, declining or holding steady?
- Are there lots of new developments or construction in the area?
- Are new businesses moving in? A new Marketbasket or Whole Foods says a lot.
- Are there any other external factors that could contribute to changes in home value in the area, such as a new public transportation system, changing city regulations or other conditions?
Finding the ideal neighborhood can be a balancing act of give and take, but if you’ve done your homework and have a clear idea of your short and long-term goals, it will make the entire search process much more manageable.
Doing your homework.
This site helps compare data about towns and even neighborhoods: https://www.city-data.com
This Massachusetts site has maps to inform you about so many things including, even, how many pounds of trash per municipal household. https://www.caliper.com
This Realtor has put together a good article on the topic: https://www.westcotthomes.com/8-tips-picking-perfect-neighborhood-buying-home/
