Kitchens, bathrooms, bedrooms.
When you’re planning to buy your first home, it’s exciting and you can find yourself concerned most about these aspects of a home.
I’m not here to tell you that it’s not important.
While first-time homebuyers spend time searching online and viewing tons of photos, there’s one important aspect of homebuying that is often forgotten about — picking a good neighborhood.
Yes, location is important, but the surroundings of your home also should be highly considered. Not every buyer is the same so finding a neighborhood that works for you is key. Here are five important things to consider when looking for a good neighborhood.
What Can You Afford?
Location is a big factor in the price of a home. Some neighborhoods are going to be costlier than others. Although it may have every single item on your wish list, you don’t want your dreams crushed by searching for homes in neighborhoods you can’t afford.
To start the search process understanding what homes you can afford, I recommend you get pre-approved for a loan by a bank or mortgage lender. By understanding your price range, your real estate agent will save you plenty of heartache by identifying affordable homes and neighborhoods.
What Type of Neighborhood Do You Want?
You’ll want to consider what type of neighborhood you prefer. Do you want a location that is urban, suburban, or rural. Some buyers like the hustle and bustle of busy city life where shopping, dining and entertainment are close. Others prefer a quieter, suburban setting they want to raise kids in. Or maybe you don’t want any neighbors and prefer having a lot with more acreage.
Take time to consider which neighborhood type is best for you and your needs.
How Important Are The Local Schools?
If you are a parent, you should carefully consider the quality of the neighborhood schools. Depending on how high it is on your priority list, you may want to choose a home because of the local schools. When searching for homes, the property listings will contain information about the neighborhood schools. You can check for the schools ratings by using this handy guide or a site like GreatSchools.org.
If you don’t have children or aren’t planning to start a family, this won’t be a factor for you.
What’s Beyond The Front Door?
Knowing what is next door or near the home you want to buy should be considered. In addition to knowing what type of neighbors you have, you should also know what’s around you. Will you reside among lots of single-family houses, or apartment complexes?
Also, be mindful of empty lots that are close by. Will it be a new home, gas station, retail shop, or warehouse? It may not matter to you, but if it does, it may be worth digging a little deeper to find out.
How Long Do I Want to Be Here?
With the excitement of the shiny new address and location, many buyers don’t consider how long they plan to own the property. If you are not sure you’ll be happy living in the neighborhood for a while, it’s not a place you probably want to be.
If you have any questions about local neighborhoods or the home buying process, leave a comment below.