You Don't Just Buy the Home—You Also "Buy" the Neighborhood
Updated: Aug 12, 2021
When you buy a home, you are—in essence—also “buying” the surrounding neighborhood. Yes, most buyers know that they’ll need to research local amenities such as schools, services and transportation, but how do you really know if your prospective neighborhood is right for you?
As you start zeroing in on the home you want to buy, here are a few key things you should consider about your potential neighborhood:
Sidewalks, Common Areas and Open Spaces. In most cases, a neighborhood that’s walkable and accessible is a good sign. You’ll want to see pedestrian walkways, local parks, undeveloped “natural” areas, and even bike paths and community recreation areas such as sports fields.
Well-Maintained Homes and Businesses. Your potential new home may have great curb appeal, but how about the surrounding homes and businesses? Take a drive through the neighborhood and see if other areas are being maintained on a regular basis.
Residents Out and About. Although the number of people walking, biking, etc. can vary based on the type of neighborhood it is, if you see residents out and about—at most hours of the day—it’s a good bet that the area doesn’t have serious safety concerns.
Community Events. This could include community picnics, farmer’s markets, street fairs, or scheduled children’s activities. To find out about community events in your potential neighborhood, check Facebook, Nextdoor.com or other social media sites.
Local Restaurants and Small Businesses. It’s always good if a neighborhood is adjacent to locally-owned restaurants and small businesses. Not only can businesses such as these be desirable for you personally, but often it also means that the neighborhood has deep roots.
New Construction Projects. Although a lot of construction in your potential new neighborhood may pose some inconveniences for you if you do decide to buy in that area, it can be taken as a sign that the neighborhood is thriving.
The Number of Homes for Sale. If you see a lot of “For Sale” signs in the area, that could be a red flag. It may just be a transient area or there may be another reason for it, but you’ll definitely want to ask your real estate agent about the real estate activity in the area.
Of course, your vision of the perfect neighborhood may be slightly different—you may want a neighborhood that’s very quiet, that has young families with children, etc.—but if you let your agent know what you’re looking for, they’ll be able to steer you in the right direction.
For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.
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