Time and time again it is said that in real estate, the most important criteria is location, location, location. But the truth really is that having a home in a great neighborhood can not only help it to increase in value, but also make it easy to sell when you decide to move on.
So, when you are searching for your next home, how will you know that you’re in a stable neighborhood? Here are some tips that can help you to ensure that you may be in the right place.
Low Crime Statistics
One of the biggest factors to ensuring stability in a neighborhood is low crime stats. In fact, you should never even consider purchasing a property in an area without first checking into its figures on crime. You can generally find this information on a city’s police department or other similar websites.
People are Out and About
Stable – and safe – neighborhoods will also have people who are out and about. This means that kids are playing in yards and nearby parks, and locals are out trimming their grass, walking their dogs, and doing other activities.
In order to get a true picture of a location, don’t just view it during the day, but also after dark. This is when you want to make sure that there isn’t a lot of illicit activity going on in the streets and / or the sidewalks.
Strong School Scores
Good locations will usually have strong school systems, too. These ratings are based in large part on the performance on state standardized tests. To find this information, you can do a search on GreatSchools.org. Typically, in places where school test scores are strong, the home prices tend to also be higher.
High Percentage of Owners versus Renters
Neighborhoods that have a higher percentage of owners versus renters will typically be considered more stable. This is because for the most part, renters are considered more mobile than those who own their homes.
Keeping all of these items in mind before you make a purchase can pay off in droves down the road in terms of your home’s appreciating value, as well as the overall enjoyment that you obtain from your home while you are living in it. Are you ready to start looking for a new neighborhood? Give us a call.
