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Factors to consider when choosing a neighbourhood


03 Dec 2018

As a homeowner you need to ensure that the neighbourhood you choose to buy your next home in gets all your ticks on your list. When buying a home it is wise to analyse the neighbourhood thoroughly to avoid any buyers remorse. Some of the important factors to consider when choosing a neighbourhood include:

Your new home
Owner of Remax Masters, Glenn Norton suggests: "As you need to confirm that you are in the best neighbourhood, you also have to determine if the home is big enough to accommodate the whole family and has all the necessary features your family needs." If you have cats or dogs, check that your new home be adventurous enough for your fury friend. You can also determine if your children have enough space to play outside on summer days. Norton advises: "Let everyone in the family make a list of the features that they want in their home and then carry out your research." Once you have created your list, finding your home in the perfect neighbourhood will become more easier. 

Home values
Increasing home values is one of the biggest markers of a great neighbourhood. Work with your agent to find an area or neighbourhood where real estate prices have an upward trend. While you may find areas in which there are great deals on homes, it will be wise to question why prices are decreasing and consider the impact it will have on your purchase. A house is an appreciating asset and if the prices of other houses in the area are dropping rapidly, you will not get a positive return on your investment should you decide to sell. However, if you buy a home in a great neighbourhood and decide to sell after a few years, you can do so without running a loss. 

Close to amenities 
Going to the mall should not take you hours but rather be at a reasonable distance away from your new home. Many homeowners look for convenience and are attracted to the proximity of amenities such as shopping malls, restaurants and parks. If you have children, your new home should also be in a neighbourhood with good schools. Your neighbourhood must also be close to your place of work as you do not want to have to take long daily drives wasting time in tons of traffic. 

Crime and safety
Crime in the area is a vital factor when choosing a neighbourhood. "You have to consider the security in the area. This needs a lot of research." stresses Norton. Do a search online or visit the local authorities to get statistics on the crime in the area. Chatting to the locals will also give you an indication if the area is safe or not. Your family's safety is extremely important. You should be 100% convinced that the neighbourhood you choose will not give you sleepless nights regarding this.  

The community
"You must also consider the fact that you will be a part of a new community that you will interact with on a daily basis. Get some background on the neighbours and community from your Area Specialist." adds Norton. If you are the social type see whether the neighbourhood organizes community events, like a farmer's market.

Find the perfect neighbourhood for your family today. Our dedicated specialists at RE/MAX Masters will assist you with the big move into the area that best suits your lifestyle and needs. Contact RE/MAX Masters today to get more insight on the neighbourhoods you should be considering for your next home. 

Author RE/MAX Masters
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