What factors should you consider when choosing a neighborhood?

You’ve probably heard that in a relationship, the other person’s family and friends are part of the deal. (Hope you like them too!) There’s a similar adage for buying a home – the house comes as a package deal with its neighborhood. You’ve got to like them both! 

But what should you look for in a neighborhood? Consider these factors that may influence your decisions. 

Look beyond the purchase price. 

When considering your monthly mortgage, remember other necessary costs like insurance, property taxes, homeowners association fees and more. Often, these costs are not options you can pass on. If the home is near a waterway, you may be required to purchase flood insurance. If the home is in a planned community, you may be required to pay HOA fees. If it’s in a new municipality, the property taxes may not be the same as they were at your last place. 

What amenities are important to you? 

If you have children (or plan to), the neighborhood schools may be a major consideration. If you enjoy biking, perhaps you’d like nearby bike paths. Consider basic amenities too, like the proximity of a grocery store, pharmacy or other must-have.

How will the location support your quality of life?

Quality of life is a very personal metric. It’s not the same for everyone. Consider:

• How’s your daily commute to work from the new location? 

• Are you close enough to family and friends? 

• Does the neighborhood meet your aesthetic preferences with regard to lighting, sidewalks, fences and other “curb appeal” considerations? 

• How’s the neighborhood noise? 

There’s no substitute for a walk-through!

You probably wouldn’t buy a house without walking through it. Consider doing the same in your prospective neighborhood. Take a walk and/or drive through at different times of day and in different weather conditions to make sure it’s what you’re looking for. For example, does traffic flow well in the area? Are the streets prone to flooding?

Ready to begin your homebuying journey? Start with a Homebuyer Education Class from United Housing!