Tips for Choosing Your Next Home

By
Mortgage and Lending with Olympus Labs

When house hunting, finding the best possible residence in your ideal neighborhood can be challenging to say the least. Here are some pointers for helping make smart choices for which house to buy:

Identify neighborhoods that are safe and sound

There are several steps that you can take to determine whether a neighborhood is going to meet your safety standards. Here is a checklist:

Check out the crime rate

It goes without saying that you want to buy a house in a safe neighborhood, and that includes not being surprised by unwanted visitors. There isn’t much point using a random spin wheel to make a choice that could have such a big impact on your wellbeing.

One of the most important things you can do when checking out prospective neighborhoods is therefore checking the local crime rate statistics. A comparatively high crime rate means it's more likely that there will be burglars or other criminals roaming your neighborhood. 

Avoid such areas at all costs if you can afford to. Having said that, such a random spinner could be useful if you’ve narrowed down your options to a favorable shortlist that you simply can’t choose between.

Check out the school district

Another thing you need to consider is what kind of school district your new potential home is in. If there are any schools nearby that have bad reputations for test scores or other reasons, then it might not be worth buying a house there. 

The last thing anyone wants is their children having problems at school. A child’s whole life can be impacted just because they live in the catchment area of poor schools. Strive to find the borders where the preferred schools are and stay inside them.  

Look into local community organizations

When investigating different neighborhoods, look for ones where there are many ways for people who live there to get together socially, too (like churches). This will increase the chances that community members feel comfortable living together.

This is always important when there is a mix of people from different backgrounds or ethnicities. It fosters unity among neighbors who share similar values, such as helping each other during hard times (like after natural disasters).

Research the neighborhoods by speaking to locals

The next step is to research the neighborhoods you're considering. You can do this by asking local neighbors about their experience living there. Still, it's also helpful to speak with real estate professionals and homeowners who have insight into what it's like living in these areas.

By asking your peers about their experiences, you'll get a first-hand account of life in each neighborhood. Some questions you could ask include:

· What kind of people live here? Are they friendly?

· What are the crime rates for this area? How safe does your family feel walking through here at night?

· Are there good schools nearby that our kids can attend if we move here? (If your kids are younger than school age, ask about preschools.)

· What has been happening within this neighborhood recently? Will it be getting better or worse over time?

Check out the houses' market values

A house's market value is the amount a willing buyer would pay a willing seller when neither party is under duress to buy or sell.

In other words, the price at which real estate would change hands between a knowledgeable buyer and a knowledgeable seller. This is with both parties fully aware of all relevant facts.

How do you find out what your house is worth? You can get an estimate from some online services that show you how much houses like yours have sold for in your area (or even in another city). You can also hire a local real estate agent or appraiser who will analyze you based on recent comparable sales in the neighborhood where your home sits right now.

Houses with prices at the higher end of the market are giving you the signal that it’s more sought-after and therefore more desirable.

Conclusion

It’s best not to rush into buying a house. Doing due diligence before signing the dotted line can’t be underestimated. Check out your local area to see which neighborhoods are safe and sound. Research the neighborhoods by asking local neighbors. Moreover, get the help of your friends or relatives in the area. Lastly, check out houses' market values.

Comments (5)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Wonderful tips for sure, enjoy your day and have a wonderful, safe Holiday weekend. Bill

 

Jul 01, 2022 09:54 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello David Jackson, MBA these are very valuable list of tips for choosing next home.

Jul 01, 2022 02:24 PM
Barbara Michaluk
Weichert Realtors | Phone Direct 240-506-2434 | 301-681-0550 office - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

This is all good info for buyers who are in the process of determining where they want to live next!

Jul 02, 2022 05:33 AM
Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

We were moving to a Lake community that covered three counties and over 100 subdivisions. It was overwhelming so I asked the local agent to recommend a few subdivisions with my criteria. She gave me two and we checked them both out. We ended up in one that met all our needs. Always use your realtor to give you the low down on the area!

Jul 02, 2022 07:55 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jul 03, 2022 03:59 AM