Glance At The Trends
Looking at the trends of a real estate market would not yield much if you are up for buying a home either for living or for a profitable investment. As you prepare to go out for house-hunting do remember that neighborhood matters – and it matters very big. Carry out a detailed study of the neighborhood where you are going to invest your hard-earned money.
Neighborhood search requires deliberate preparation. It is a real hectic job. But the results are so rewarding that you will never question the venture in future. Along with the hard work, when you get on to the job, you will find it quite charming too. Go systematic. Follow the following:
• Get in touch with the association of the community in the neighborhood you are interested in. Usually there are lots of activities in these associations. Some publish newsletters, hold periodic meetings or lead different other community related activities. You may get very useful information from these activities and resources.
• Subscribe to the local newspaper or publications that focus on neighborhood or community activities. Visit a local library to glance over their old issues.
• Visits to the community hang-outs like pool, pub, community center etc may give you an idea about the people who are your potential neighbors in near future.
• A neighborhood with sidewalks means a lot. People frequently meet and greet each other on sidewalks and develop a warm relationship as neighbors. A neighborhood with sidewalks not only encourages you to walk a mile (and keep fit!), our children too, get a space to play and have fun with their bikes. It also invites our neighbors walking down to our doors and establish what is called a true neighbor-to-neighbor relationship.
• If you visit the neighborhood of your choice at different times of the day both in weekdays and weekends, you may find a clearer picture of it. It will reveal if the people in the neighborhood are working out of or at home. Number of school-going children and babies, retirees, young mothers etc.
• Grab a map and take a look at it to find out facilities and amenities. Parks, hospitals, libraries, schools, shopping centers etc should be your points of interest. Drive through different routes and take a tour around to find good and bad sides of the neighborhood.
• If you have school-going children, do visit the schools in the area to see their test scores, experienced teaching staff, learning environment etc.
• Meet the neighbors. Talk to them and get a first hand impression about the area including crime rate, traffic, feelings, living conditions, changes and many other matters that come in your mind.
• Pay a visit to the city hall and get informed about zones, ongoing and planned roads, constructions, projects etc.
• Have a detailed appraisal session with your real estate agent. Get as much information as possible from the agent about the market trends and conditions, resale values of homes etc.
• Website of your town/city will be a source of invaluable information especially that of real estate tax assessment. Recent home sales, rating of the structures, values of land against structures etc are the most important information you need to know.
• Don’t forget to visit the local police station. They can give a true picture about the crime scenario, emergency response types and times and many other additional things you need to know before moving in.
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