When
buying a home, the neighbourhood you select will not only play
a pivotal role in your family’s life, but in the resale value
of the property.
One
person’s ideal neighbourhood however may vary greatly from another’s.
But, regardless, there are some needs and wants that generally
do not change. The distance from your new home to schools, churches
and shopping, for example, will not only affect how you and
your family settle into your new home, it will also draw or
turn off a perspective buyer.
A good
first step is to enlist the services of a Realtor who works
in the area you are thinking of moving. Realtors are very familiar
with the communities in which they work and can answer many
of the questions you will develop during your search.
A home
is a part of a larger community. And some are more desirable
than others. Some communities are geared more to young families,
others to older adults and still others to singles or an eclectic
mix of residents. Never buy in an unfamiliar community or neighbourhood
unless you have spent some time there both during the week and
on weekends, day and night. Drive and walk around. Talk to store
owners and people you meet on the street. Ask what they think
of the neighbourhood.
If there
are vacant tracts of land where you plan to buy, check with
local authorities to see what the proposed land use might be.
The last thing most homeowners want is the development of a
mall or a high-rise office building across the road from their
newly-purchased property.
Don’t
let particular things in a home that appeal to you override
its location and potential subsequent resale value. When analyzing
a potential property, ask yourself if you can imagine living
-- not just in this home -- but in this neighbourhood for quite
a long time.
Remember
that someday you may have to sell your home to someone else
and things that may not be important to you -- such as distance
to schools, shopping, doctors and work -- may be important to
other buyers.
In addition
to finding the right neighbourhood, consider the immediate homes
around the particular property you want to buy. Are they well
maintained and worth the same or more than the home you are
considering?
Is
the location a quiet area or a major traffic thoroughfare? What
kind of privacy does the backyard provide? Does it get the morning
or afternoon sun? If there is no house behind you, who owns
the property and how will it be developed?
Homes
located further away from the centre of an urban area are generally
cheaper. Are you prepared to invest the time and money it takes
to commute and how long of a commute are you prepared to commit
to? Is there public transit and good access to major highways
nearby?
If you
have kids in school, what kinds of schools and services are
available? Will your kids have to be bused to their school?
If a school is close by, will they have to cross any major intersections?
Being
close to a school, on the other hand, may have some drawbacks
-- few owners want the noise and disturbance of being located
right next door.
Finding
malls, grocery and specialty stores in urban, residential areas
is rarely a problem. But in neighbourhoods further away from
urban areas, you may need to drive to the nearest convenience
store. And getting to the local grocery store, pharmacy and
other support services may require an even longer trek.
It’s
great to be located near parks and recreational facilities,
but few homeowners appreciate the high cast of tennis court
lights beaming into their back yard. If the home you are considering
backs onto such property, drive around the area and see how
often the baseball diamonds, soccer fields, swimming pools and
skating rinks are being used and when.
More
serious concerns are having such things as gas stations, airports,
railway tracks, commercial developments, major highways and
cemeteries very close by.
Finally,
if your heart is set on finding that one-of-a-kind 150-year
old Georgian home, you’re not going to find it in a newer development.
If you want large bedrooms and bathrooms, narrowing your search
to an older part of town where homes are generally smaller,
may prove disappointing.
Before
making any decisions, think of your lifestyle and how a particular
location would enhance or detract from it.
