How to choose the right neighborhood when buying your first home
Buying your first home is an incredibly exciting time: From the thought of being a homeowner to building a family under a solid roof, there’s nothing quite like it. And while the idea of the porch swing out back, the potential views from the bay windows, and the added space for any kids that might be on the way might make any home appear perfect, it’s important to keep a level head and an open mind before signing any closing documents. When buying a home, consider the neighborhood surrounding your potential new abode.
Why it’s Important to Put Careful Thought and Effort into Choosing a Neighborhood
Finding a good neighborhood is just as important as finding the right house, especially if you have little ones joining you for the big move. It’s common for young couples moving into their first home to be there for a few years, and even up to a decade or more. This not only means you will want to love where you live, but it could also be the area in which you raise children.
The neighborhood you choose will impact their upbringing. It’s where they will go to school, make friends, and grow as a person. Just as important, you will be living there as well. Even small things like having to drive a considerable distance to a decent supermarket will become a massive inconvenience as the years pass by. So, it’s important to have your checklist ready when selecting your new neighborhood.
What to Look for in a Neighborhood
Despite what anyone may say, finding the perfect neighborhood for you is possible. To help you conquer this seemingly daunting task, here is a go-to checklist of the things you’ll need to consider when it comes to knowing how to choose the right neighborhood.
Don’t just look at house prices now. Look at where they’ve been in the last few years and where you think they’re heading. This will give you a good indication of how your property may increase in value, or what the resale value will be if that day ever comes.
Is it possible to get around by walking, or will you need to get the car out of the garage every time you need to take the kids to school or pick up some groceries? Luckily, smartphone apps and other tools can give you an indication of a neighborhoods walkability score before you even visit.
Once again, look to the future here. Think about how old your kids will be in 3 or 4 years’ time. Will they need to move up to a bigger school? Research the nearby schools to determine if they fit your needs.
Ratio of Owner-Occupied Homes to Rentals
It’s always nice to have a neighborhood full of people who are equally invested in their future in the area. As such, many people like to find neighborhoods with more owner-occupied houses as opposed to rentals.
Job availability and household income rates
Financially, is it a smart area for you to live? Think about working opportunities nearby, as well as how much it realistically costs to raise a family in the area.
Access to outdoors/nightlife/ family fun, etc.
Don’t worry, it’s not all work in your new home! Pick somewhere that has the right sorts of activities you and your family love, whether that be plenty of restaurants or large open play areas for the kids. Be sure to keep an eye out for access to the activities you enjoy alone or as a family!
Sense of pride in the community
Do you get a sense of local pride in the neighborhood as you drive through or walk around? Are buildings and communal areas well maintained and cared for? Does it seem like the neighbors and community members are taking care of the yards and home exteriors??
Having easy access to major highways and thoroughfares can save you precious time on your daily commute. When looking at homes, note the time it takes for you to not only find the highway you regularly use, but how long it takes to access.
If you need to commute by public transport to work every day, easy and/or close access to public transportation can make or break your love of a neighborhood. Having to walk 20+ minutes, for instance, to the local bus or train will become a grind, really quick.
This is important! Always research recent crime statistics. And see how things have stood for a few years to ensure the area is not in decline.
Emerging restaurants and breweries
New restaurants and breweries emerging in communities all over the country are making it easier than ever for families in new communities to make friends and enjoy a day/night out. Pop open Yelp or one of the many similar apps to see what’s trending near your (potential) new home.
How to Research a Neighborhood Before Buying a House
To help you out even more, here are our top 6 tips on how to research an area before buying a house.
1. Ask the right questions
When you’re exploring each house, whether with your realtor or otherwise, ask the right questions … and lots of them! In fact, it’s always best to prepare any questions ahead of time and tick them off as you go. NOTE: You can get a start on your list based on the points given above.
2. Drive around the neighborhood
Just by driving around, you’ll get a quick feel for the area and whether you like the layout and the local aesthetics.
3. Take a long walk
To get a better feel for the place, head out on a long walk. You can then take more time with your partner and your kids to take in the local charm and appeal and see if it’s right for you.
4. Visit local businesses
This is a great opportunity to head into any local businesses you pass along the way, including places like pubs, restaurants, and even barbers. Speak to the owners and ask for their honest opinion on the area.
5. Head online
You can find anything online these days! Local crime statistics, what’s happened to property values in recent years, and what’s in store for the community are all now available at your fingertips.
6. Speak to the local authorities
Finally, it’s worth calling up the local authorities, such as the police department. They can give you the lowdown on safety statistics for the area and point out any problem areas that might not be conducive to raising a family.
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