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How to Evaluate a Neighborhood

How to Evaluate a Neighborhood

Here are some tips on how to evaluate a neighborhood well!

1. Drive Around

Does it look like a place you’d like to live?
Is it near places you’d like to go?
Is it too near places you’d like to avoid?
What will it be like at commuting times?
What is it like at night?

2. Quality of Schools

What is average school performance?
Average test scores?
College bound percentages?
Spending per student?
State rankings?
Financial position?

3. Education/ Income Profile

Average household income in the area?
Education level of most people in the neighborhood?
Types of occupations other owners have nearby?
Are there families with kids or people who are retired?

4. Cultural Amenities

Proximity to museums, galleries, universities, seasonal entertainment, theaters, etc.
Even if you don’t frequent them, they set the tone for the area.

5. Property Values

Steady or increasing values generally mean that your investment is sound.
It is almost always best to buy the smallest, least expensive home in the best neighborhood you can afford.

6. Future Growth

If you are not planning on staying in your new home for a number of years, an abundance of new construction could affect resale.
The existence of higher-end properties could increase the value of yours.

I hope these steps for how to evaluate a neighborhood were useful!

Here are some more helpful moving tips:

Dealing With Financing

Look Who’s Buying

Great Tips for Relocation

Home Buying Checklist

5 Tips for Buying a Home

Always seek the assistance of a real estate professional for your neighborhood evaluation!

Thinking about making a move? Contact Natalie today, 949.929.5727.

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