The smartest neighborhoods tend to have properties for sale at an asking price that would be beyond the budget of a first time homebuyer.
You often have to work your way up the property ladder before you can take up residence in some of the most highly regarded areas and you might have to make some compromises along the way before that, but you can still be savvy with your choice of neighborhood.
Here are some insights and tips on how to find the right balance and achieve the combination of a great house in a great community. There is a look at some of the key aspects to consider when searching for a home, what demographics to take note of and why it pays to take your time checking out a neighborhood online and on foot.
Ingredients for happiness and success
If you are a first-time buyer you are almost certainly going to be restricted by budget but that doesn’t mean you can’t be smart about your selection process and find a property that ticks all the right boxes.
There are three key ingredients when it comes to homebuying that if you can get them to all align you will have a much greater chance of finding what you want and enjoying living in a property that will become a home.
There is so much data available on the internet these days so you will be able to check out a neighborhood and see how good the demographics are for the occupants of your neighboring properties.
A good standard of education is often a fair pointer to a good community that cares for the neighborhood and looks out for each other. You can also see whether house prices have a good track record for appreciating in value.
The final ingredient is affordability. Get all of these elements together and you have a strong combination that will appeal to you as a home buyer and also to lenders who also check this sort of data to see how safe their money might be in the property.
You can check this website for mortgage information and once you have found a property that offers what you are looking for, the next step is down to you.
Buying a home is a major financial decision so you want to make sure you get it right and do plenty of research before going ahead with the purchase.
Drive around the neighborhood and use your eyes to see how things look to you and whether you feel comfortable being there. You can use more than your eyes and ears to do some research on the neighborhood and there are plenty of free resources that give you data on things like criminal activity in the area.
You also want to check what the local traffic and public transportation systems are like, as you need to be able to get around safely and easily. If commuting is a challenge for you or your intended home is not a bus route that gets the kids to school, these are all things that are going to inconvenience you and deter buyers when you come to sell the property.
Moving to the right community isn’t just about affordability so take your time finding the perfect neighborhood that suits your budget and gives you a great start on the housing ladder.
Eva Curtis shares her insights and tips when it comes to buying, selling and moving home. She has built up a wealth of knowledge in her years working in real estate which she is now sharing with an online audience.