With the amount of inventory in many parts of the country and low interest rates many buyer's can pick up some great deals in today's market. The potential to make a good investment is there but the buyer still needs to make a smart pick when it comes to location. As many people have found out their house appreciated isn't always a sure thing.
Us News and world report put out an article that highlights 6 things to be aware of in the neighborhood you are potentially going to buy in:
1. A well-groomed neighborhood:In general homes that are well maintained and well landscaped in an up kept neighborhood tend to hold their values better than neighborhoods that are not. Many people don't like the rules of a home owners association but a good one that has strict standards on the house upkeep can really be a benefit to a neighborhood in the long run.
2. Good schools: Purchasing in a good school district will make your home more desirable when it comes time for resale. Communities located within strong school districts tend to support higher home prices.
3. Low crime: This one is kind of obvious since no one really wants to leave in an area where they feel unsafe.
4. Close to public transportation: With more and more Americans focusing on a green lifestyle, living in an area that can lessen a person's dependency on their car is smart. People seem to be willing to pay a premium to live close to a way to commute to work, with gas prices continuing to fluctuate.
5. Favorable population trends: If an area is growing the demand on housing with continue to rise which equals some healthy appreciate for your home.
6. Healthy employment landscape: This is really a key to a healthy housing market, people are going to want to move where the jobs are. Find out if new companies are slated to move into an area and pay attention to things going on in your local government and how they may or may not attract local businesses.
For the Full article: 6 Signs of a Strong Housing Market
Your Buyer's agent can really be a valuable resource on helping you learn about the different neighborhoods and give you tips on how to buy a good long term investment.