Buying a Home: What to Look for in a Neighborhood
You’re probably familiar with the old real estate saying of “location, location, location.” Essentially, where you do business (or live) matters. When it comes to buying a home, this same principle applies. Where you buy your home matters.
Like houses, neighborhoods range from extremely nice and luxurious to run-down, so it’s important to take all of this into consideration as you search for your next home. Here are 5 things to take into consideration about your potential new neighborhood when home buying.
1. Schools
If you’re a parent, this may feel fairly obvious, but even if you’re not a parent, schools are important. Schools can affect property rates and resale values in a neighborhood. When looking at neighborhoods, be sure to consider what school district that neighborhood is in. Look at schools from elementary schools through high schools to make sure these meet your standards. If you aren’t sure if a school is up to par or not, you can check out its rating here.
If you want even more on real estate and school districts, check out this article.
2. Amenities
Secondly, do your research when it comes to neighborhood amenities. If you love the outdoors and being active, a neighborhood with walking trails and greenbelts may be appealing. If you have young kids, consider looking for a neighborhood with a splash pad or parks that they can play at. Keep in mind, neighborhood amenities can affect HOA rates so be sure to be informed about those ahead of time as well.
3. Crime
Next, consider the crime rate of a neighborhood before falling in love with a house within it. One of the best resources is this site that will inform you of the crime rates of each neighborhood. You could also simply walk through the neighborhood and get a feel for how safe you feel. Ask the neighbors about their experiences and check local police reports if you want to really be sure.
4. Proximity to Important Places
When it comes to neighborhoods, the location of the actual neighborhood is just as important as the neighborhood itself. How close is this neighborhood to your workplace? Your church? Your favorite grocery store? Or your family’s house? All of this and more matters. Make sure that you fall in love with a neighborhood for its location as well as its amenities. Long commutes can get old really fast!
5. Costs
Finally, it’s important to take neighborhood costs into consideration. Expenses like HOA fees, utility bills, and general cost of living can vary from neighborhood to neighborhood. Do your research ahead of time and set a budget for yourself. This can help you to have more realistic expectations about neighborhoods that you look at.
Next Steps
As a Realtor, it’s my job to not only find you an amazing house, but to find you an amazing house in an amazing neighborhood. I’m familiar with the Edmond/OKC area and would love to help point you in the right direction. Reach out anytime at traceyrice@kw.com or 405-226-3770.