By Teri Silver

The Importance of Neighborhood Research in Home Buying

By Teri Silver

Neighborhood research is important for homebuyers – you want to get the best bang for your buck. It’s easy to fall in love with a piece of property, but is this home right for you? Do your homework by researching nearby home values, amenities, property upkeep, and community involvement.

Housing Market

Determining home values in the neighborhood you’re considering starts with asking two questions: Where are prices heading and what’s happening to mortgage rates? Also consider this: Can you make a profit when it’s time to sell?

The housing market has been up and down in the last few years. Most recently, rising interest rates have led to a buying slowdown. And looking at the housing market for the next several years, experts have varying opinions as to what can happen.

When looking at homes of interest, ask your real estate agent for neighborhood “comps” … comparable property values in the same area.

Schools and Daycares

Home buyers with school-aged children want their kids to be safe and well-educated. Checking out school districts in the desired neighborhood gives you information on classroom sizes, graduation rates, and STEM (Science, Technology, Engineering, Math) programs for all ages. Don’t forget to ask the school administrators or daycare operators for a tour of the facilities.

Amenities

Suburban neighborhoods with nearby amenities are a draw for many homebuyers who want to live near grocery stores, libraries, restaurants, dry cleaners, banks, and the like. Additionally, newly built neighborhoods may have clubhouses, tennis courts, and public swimming pools for residential use.

If the house you’re looking at is on a remote or rural piece of property, determine how easy (or not) it is to access major roadways, emergency medical facilities, and your local sheriff. Are there any neighbors nearby? Does the county take good care of the roads, especially in winter? Don’t be afraid to talk to them to get a feel for your surroundings. 

Activities

Exercise can help us stay active and healthy. When checking out houses for sale, note whether the block has sidewalks, bike paths, and walking trails. Social activities, neighborhood gatherings, volunteer opportunities, and community organizations are great ways for civic-minded homebuyers to remain active.   

Block Watch

Neighborhoods are made up of people — your potential neighbors. Find out if they have block parties, crime watch programs, and other children for your kids to play with. Check out the backyards. Are there privacy fences on other properties? Could you install a privacy fence on your potential property? Remember, well-maintained houses and yards indicate pride and respect for one’s own home and the neighborhood.

Starting the Search

While you’re at it, research your new home neighborhood by:

• Browsing websites that rate neighborhoods by zip codes. Visit your chosen community’s website to see if it’s “right” for you. Note available crime statistics. Local newspapers and websites will have information on what’s going on in the community.
• Walk around a block or two to get the feel of the neighborhood. Explore the area to find a few possible hangouts, like a coffee shop or local bookstore. Are these places easy to walk or bike to?
• Drive your commute to work — do it during rush hour, if possible. Mapping routes helps to ease the anxiety of dealing with unknown traffic.   
• Visit the community pages on Facebook or other social media sites. Chances are good that your would-be neighbors have a lot of great information to share. 

Bottom Line

The home-buying process is more than just finding a house and placing a bid. Comfort and convenience are part of the package. Take your time before making that expensive home investment. Research, discover, and explore these new surroundings before signing your name on the dotted line.

Teri Silver is a journalist and outdoor enthusiast. She and her husband live on 5 acres with a vast lawn, three gardens, a farm, a pond, many trees, and a lot of yard work! The best parts of the year are summer and fall when home-grown veggies are on the dinner table.