|
Good
neighborhoods, like beauty, are in the eyes of the beholder. For
example, being near excellent schools is important if you have young
children. If, conversely, you're ready to retire, buying in a peaceful
area with outdoor activities may appeal to you, and being next to
a noisy junior high school is your nightmare! Personal preferences
aside, all good neighborhoods have the following characteristics:
-
Amenities: Amenities are special features of a neighborhood
that make it an attractive, desirable place to live. Wide streets
bordered by stately oak trees, lush green parks, ocean views,
quiet cul-de-sacs, parking, and proximity to schools, churches,
shopping, restaurants, transportation, playgrounds, and beaches
are prime examples of amenities that add value to a neighborhood.
The more of these perks a neighborhood has, the better from the
perspective of most homebuyers.
- Quality
schools: You may not care how good or bad the local schools
are if you don't have school-age children. However, unless you're
buying in a remote retirement or vacation-type community, you
had better believe that when you're ready to sell your house most
prospective buyers with kids will be deeply concerned about the
school system.
- Low
crime rates: Most folks today are concerned with crime. As
with schools, don't rely on hearsay or isolated news reports.
Communities compile crime statistics, generally by neighborhood.
- Stability:
Some communities are in a constant state of flux. Imagine
what would happen to property values if a junk yard were replaced
by a beautiful park. How about the reverse -- an ugly, multi-story,
concrete parking garage appears where there was once a beautiful
park?
- Pride
of ownership: A home's cost has no bearing on the amount of
pride its owners take in it. Drive through any neighborhood, posh
or modest, and you see in a flash whether the folks who live there
are proud of their homes.
Property values sag when homeowners no longer take pride in their
property. Avoid declining neighborhoods which display the red flags
of dispirited owners -- poorly kept houses, junk-filled yards, abandoned
cars on the street, many absentee owners renting houses, high rates
of vandalism and crime, and so on.
__________________________________________
Next Step: Evaluating Neighborhoods
Back
To Buyer Services
|