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Neighborhoods & Schools

 

Home sweet neighborhood.

When you've figured out what price range you have to work with, you can begin considering which community you'd like to live in. Just like marrying your spouse is akin to marrying his or her family, buying a home is the same as buying the neighborhood. And, just as there is no "perfect" person, there is no perfect neighborhood. It's a matter of making priorities according to your personal preferences and your lifestyle.
 
Here are some specific things to consider when you're neighborhood hunting:
  • Quality schools. Even if you don't have school-age kids, when you put your home back on the market, potential buyers with children will put this high on their lists. You can learn more about local schools from your real estate agent, by visiting the schools personally and by talking to parents and teachers, or even via the Internet.
     
  • Modest home on a nicer street. These homes tend to hold their value and are easier to resell. Or look for areas on the "fringe" of more prestigious neighborhoods; sometimes these areas appreciate faster than long-standing communities.
  • Amenities. These are qualities that make a neighborhood desirable, like lake views, ample street lighting, parks or playgrounds and little through-traffic.
  • Proximity. How close is your new home to your office? To church, restaurants, safe and reliable public transportation? Grocery stores, medical services, your kids' daycare or school? The more time you spend in the car, the more stressed you may be and the less time you'll have with family and friends.
  • Future plans. Find out whether your prospective new neighborhood has re-zoned a residential area into a strip mall, or whether a small airport will be built nearby. The community's planning commission can give you information on future developments.
  • Appearance. A drive through the neighborhood will tell you right away how much neighbors care about their property, and how much the neighborhood may be appreciating or going downhill. Red flags are unkept lawns, junk cars on the street, vandalism and a slew of "for sale" signs.
  • A home by any other name. Besides the typical single-family detached home, you can choose an attached residence in the form of a condominium (condo) or cooperative apartment (co-op). Plus, there's the added element of brand-new home vs. existing. Each of the above has its advantages and disadvantages.
How to learn more about a neighborhood:
  • Subscribe to the local newspaper.
  • Contact the local Chamber of Commerce or visit its web site.
  • Talk to current residents—after all, they're your future neighbors.
  • Ask your real estate agent for DOM (days-on-market) statistics, which reveal how long it typically takes to sell a home in the area.