The Commonwealth Blog

Monday, February 11, 2019

Signs You Should Buy in a Different Neighborhood

Buyers want the best deals on homes that are in great shape and have value, but they should also consider the state of the neighborhood in which they’re buying. After all, a community affects the value of a home, so think twice before purchasing a dream house in a not-so-hot neighborhood. Here are some sure signs you should shop for a home in a different part of town.

A Lot of Homes on the Market
If a lot of homes are for sale on the same street, be wary. Older residents could be downsizing, the area may be undergoing gentrification, or crime rates could be increasing. Trust us on this one – you’ll want to know why so many homes are for sale at once before buying into the neighborhood.

All Homes Look the Same
If all homes in the neighborhood look identical, yours will probably follow suit. Homeowners associations sometimes have strict rules about landscaping, painting, and decorating, so take a close look at the homes in the neighborhood to see if strict rules may apply to you.

Homes Are in Decay
Be careful about buying a nice home in a run-down neighborhood. While it may seem beneficial to own the best-looking property on the block, neighbors who don’t maintain their homes bring down the whole neighborhood’s value – your home included. Be sure to consider the amount of effort your neighbors put into the community’s appearance and well-being. If the folks next door don’t care about their home’s appearance, the value of your own home will likely depreciate.

Also, take note that housing issues in the neighborhood may be signs of other troubles. Problems with electricity or water pipes can manifest themselves in many homes on the same block. Flickering lights and pools of water may indicate larger problems are at play, and your home may already have visible or unseen damages.

Industry and School Issues
Living near industrial areas and schools with low enrollment pose problems too. Gas stations and industrial plants can be a cause for health problems, and car dealerships and auto body shops attract plenty of traffic. Schools with decreased enrollment rates may have poor management, causing students to relocate to other districts. These may be important things to consider while raising a family.

No Room for Your Car
If vehicles are your main mode of transportation, make sure there’s plenty of parking space available for all drivers in the household. Don’t forget visitors, either--a one-car garage may suffice for you but fail to accommodate your friends and family. We recommend visiting an open house on the weekend to investigate your home’s parking situation. No one wants to compete for a spot.

Choose Wisely
We all want to find the house of our dreams, but we want to live in neighborhoods that support our families, friends, and our own well-being too. Next time you’re on the prowl for the perfect house, take a good look at the neighborhood and surrounding communities to ensure you’re making a wise investment.


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