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Before you can actually pick out a house, you need to choose what cities or communities you would like to live in. There are a number of factors you should pay attention to, not just for yourself and your family, but because you plan to sell the home some day. Carefully choosing your community is the first step and will help maximize the future resale value of the house.
When you are choosing which community to live in, it makes the best sense to pick an area with a stable or growing economy. If the area is in decline, it means property values are also in decline and your investment won’t be worth what it should be in coming years.
In addition to the residential neighborhood, you should also look at the number of business or commercial districts in the area. Proximity to a thriving business community means more jobs. It can also mean that the local government has an investment in the area and is motivated to maintain it.
Try to be fully aware of the services provided by local government. Is the library well stocked with new books? Are there any community sponsored programs or activities?
You should also look into local crime statistics and see how the city compares to other communities around the state and country. Is the police force effective and responsive? Are fire stations located close enough to respond quickly in an emergency?
Another area to pay close attention to is community services. Does the city sponsor youth sports and are the athletic facilities and parks well maintained? Are there activities available for children, teenagers and senior citizens?
Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. Many of your future buyers will have or plan to have children and this will be their biggest concern.
Find out if the schools are overcrowded. Visit the schools and see if there are portable classrooms outside them. Are there enough schools to support the population? If not, does the city have plans to build new schools? How will building new schools affect local property taxes?
You should also check to see how local students score on the standardized tests. The quality of schools is the most important factor to consider.
More often than not, higher property taxes mean that a community is better maintained and more “modernized” than average. For this reason, many people actively seek to buy in areas with higher property taxes.
"Local neighborhood" refers to an area expanding from your residential area to your local conveniences, like grocery stores, the pharmacy, the video store, etc.
You want to be sure all essential shops and services are located nearby. There should also be fairly convenient access to local highways, major traffic routes, and mass transit.
There is one thing you should be wary of, though. If your local shopping center appears to be in decline, it could be an indicator that the local neighborhood is in decline as well. Check to see if a lot of stores in nearby shopping centers are vacant or available for lease. Also try to notice if the buildings themselves are old and run-down. If they are, you might want to consider purchasing in another area.
Your future home should be located as close to the center of the neighborhood as possible. You want to avoid houses located on the corner of a busy street. You also should avoid streets that are used as short cuts between larger streets. Try to buy near the middle of the block or on a cul de sac.
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