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Real Estate Expertise for Buyers
Know Your
Neighborhood
One of the most important
decisions a homebuyer must make is choosing the right neighborhood. Choosing
your neighborhood is a very personal decision, however, you should keep the
following in mind:
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If
you are considering buying in an unfamiliar neighborhood, take
the time to walk or drive around it, both during the day and
in the evening.
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Check
out the availability of community amenities (such as public
transportation, parks, stores, churches and schools). If you
have school-age children you may even want to visit the local
schools and daycare centres.
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It's
a good idea to travel the new driving route to and from work
during the appropriate times to see what traffic is like.
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The
quality of neighborhood planning, any future development plans
and local zoning will also have a significant effect on a
neighborhood's desirability. Re-sale values and even future
property taxes are likely to be affected by any significant
neighbourhood changes. Are developers interested in the
neighborhood? If so, find out what kind of projects they have
planned. You should remember that attractive tree-covered
empty spaces often become the location of new development in
desirable areas.
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Find
out if there are major infrastructure projects planned for the
area. Major construction projects, which could be anything
from building a new mass-transit station to widening the
area's major roadway, are usually part of a long-range city,
town or county plan. While construction can be disruptive, you
need to determine if it will have a positive or negative
long-term effect on the neighborhood and its property values.
Find out all you can before you decide to buy.
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Look
into the local job market as well. You can expect property
values to rise if area employers are creating more jobs,
especially higher-paying jobs.
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Talk
to the neighbors. They could be one of your most valuable
sources of community information. |
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