When you buy a home, you're also buying a piece of the neighborhood. The two are inseparable, and it's important to take into consideration what neighborhood your new home will be in before making an offer.
If property prices in the area are falling or stagnant, a lower offer is quite in order. Conversely, if property prices are climbing, it might be okay to spend a little more. Below are some criteria that are nice to look at before you start rejecting neighborhoods.
Neighborhoods have their own vibe - get a feel for each one. Ask people in the neighborhood what they think of it. Ask what they think about crime, schools, daycares, pollution, noise and traffic. Human opinion is always better than reading reports.
A good way to get to know the neighborhood is to just drive your car around it. Drive by there during different parts of the day - both weekdays and weekends. Find out what people are doing and what can be done. Find out first-hand the traffic conditions and shops that are around your future home. See what the schools in the area look like. The condition of the roads and schools will tell you a lot about the area.
Schools.
Families with children often choose a school district before choosing a home. Remember to also check the schools your child will be attending in 3 - 5 years, due to the fact that most families live in the same home for at least 10 years.
Location.
How long will it take you to get to work? A long trip may not save you money or time. Also - are there parks or gardens around? What do the other buildings in the area look like? Are there shopping centres nearby?
Infrastructure.
What is the condition of the neighbourhood's road network? Is there enough parking? Have repairs been made recently to the sewer and power lines and have the traces of those repairs been erased, or have they just been left to fate? It is also very important how access for snow clearing machinery is secured, which can be a big problem in the winter months.
Property cost.
It's a good idea to research the recent sale prices of properties in the neighbourhood and how much they have increased over the last 10 years. Inquire how much property taxes have increased or contact the township directly to get an answer.
Future Development.
Inquire about new construction in the neighborhood. Zoned development can increase property values. It can also increase taxes and traffic. One of the biggest problems can occur when, for example, 3 months after you have moved into your new home, new construction starts right in front of you, taking away your view and natural daylight.
