One BIG thing to remember when out shopping for a home is that you are also investing in the neighbourhood as well as the house. In fact, the character and amenities of the neighbourhood may be just as important to the property value as the house itself. No matter what kind of neighbourhood you’re looking for, it's important to know its history and future when you decide to buy. Here’s what to research:
- Recent sales – Find out if the market is slow and what homes have been selling for.
- Homes now for sale – What homes are listed in the area, and are they listed above past sales? This will give you a good idea of the area's overall market value.
- Home appreciation – Historical data on sales gives the best indicator of a neighbourhood's potential. Are homes appreciating at 3%, 5%, 10% or higher every year?
- Schools – School scores and district boundaries are very important to research before moving into a neighbourhood. The closest school is not always in your district, and school scores reveal if a neighbourhood is invested in the schools' success.
- Crime – Get the hard facts about any problems in the neighbourhood -- don't depend on anecdotal information.
- Demographics and growth – Find out how the area is growing and changing.
- Community – Learn about neighbourhood features, such as public schools, shopping areas, parks, commuting options and more.
I can help you with this information or more importantly introduce a trusted Realtor who can show you around.
Please give me a call or email me any questions you have. You’ll find that the more you know about the neighbourhoods you’re considering, the easier it will be to narrow your search for your new home.
Oh! And if you're thinking of buying or selling make sure to ask us about our 8 Steps to Home where we teach you about each step of the process :)