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Buying Info
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When Buying, Know the Neighborhood
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One
of the most important decisions a homebuyer must make is
choosing the right neighborhood. While this is a very personal
decision that often hinges on hundreds of different factors,
you should always keep in mind the following...
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If you are considering buying in an unfamiliar neighborhood,
take the time to walk or drive around it, both during the
day and in the evening.
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Check out the availability of community amenities (such as
public transportation, parks, stores, churches and schools).
If you have school-age children you may even want to visit
the local schools and daycare centers.
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It's a good idea to travel the new driving route to and from
work during the appropriate times to see what traffic is
like.
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The quality of neighborhood planning, any future development
plans and local zoning will also have a significant effect
on a neighborhood's desirability. Re-sale values and even
future property taxes are likely to be affected by any
significant neighborhood changes. Are developers interested
in the neighborhood? If so, find out what kind of projects
they have planned. You should remember that attractive
tree-covered empty spaces often become the location of new
development in desirable areas.
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Find out if there are major infrastructure projects planned
for the area. Major construction projects, which could be
anything from building a new mass-transit station to
widening the area's major roadway, are usually part of a
long-range city, town or county plan. While construction can
be disruptive, you need to determine if it will have a
positive or negative long-term effect on the neighborhood
and its property values. Find out all you can before you
decide to buy.
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Look into the local job market as well. You can expect
property values to rise if area employers are creating more
jobs, especially higher-paying jobs.
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Talk to the neighbors. They could be one of your most
valuable sources of community information.
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