Top 10 Factors To Consider When Choosing a Neighborhood

Where you choose to buy a house is one of the biggest decisions you’ll make alongside purchasing the home itself. Here are 10 factors you’ll want to consider when choosing your new neighborhood.

Location: Overall accessibility, transportation options, and even the climate can vary between locations. For this reason, it’s important to weigh your options if you’re deciding between areas with significant differences.

Budget: Start your search in neighborhoods with housing prices that fit solidly within your budget without stretching you too thin. You’ll also want to consider any additional costs associated with your home purchase, such as homeowners’ association or other fees if you’re considering a condo or deed-restricted community.

Costs: Purchasing a home may also come with additional costs beyond your mortgage. Property taxes, utilities, groceries, entertainment, and the overall cost of living can vary significantly between neighborhoods.

Crime and safety: Crime and safety ratings should be on your list. Research local emergency and community resources, such as medical, fire, and police services, to make sure you have the security you need in a neighborhood.

Schools: If you have kids, you’ll also want to do your research on schools. Assess rankings, available programs, and extracurriculars, along with the district’s reputation and individual schools. You might also look at different types of schools, including public, charter, or private schools.

Amenities: Make a checklist of your must-have amenities, including shopping, dining, entertainment, parks, and recreation options. As you look for your new home, go down the list to see what’s available in each neighborhood.

Proximity: Proximity to family, friends, school, and work is another factor to consider. Think about walkability, driving time, fuel costs, and how close you want to be to important amenities.

Community environment: Get a feel for the overall community. Friendly neighbors and a diverse population can add to the appeal for many homebuyers. Consider the noise levels and overall comfort of the area you’re looking at.

Pet-friendliness: For homebuyers with pets, an area with clean and safe walking paths, parks, and other pet-friendly amenities are top priorities. It’s also important to consider any potential breed restrictions.

Value and growth: Do some research on the potential value and growth for the neighborhood. This is important because you want to buy in an area with strong anticipated appreciation in case you decide to sell your home in the future.

Weighing these factors against your priorities and budget will help you find the neighborhood that’s the perfect fit for years to come.

Sources: Statefarm.com, Tchabitat.org