Wednesday, 19 June 2013

How to tell if a neighbourhood is improving

When you’re looking to buy a home, you want to find one in a great
neighbourhood – or, at least, in a neighbourhood that is on the upswing.
How can you tell if a particular area is improving? Here are some common
•Pride of ownership
. Take a walk around the neighbourhood. Do you get a
sense that people take good care of their homes? Are the lawns mowed?
Is the landscaping trimmed? Are flowers planted? Homeowners
are morelikely to look after their properties when they like where they are living.
•Home improvements
. Are people investing in their homes? Are they
getting their driveways re-done? Their windows replaced? Are there signs
of home improvement projects? If so, this is a clear indication that
homeowners like the area enough to invest in their properties.
Real estate sales activity
. Do homes tend to sell quickly in the area?
Do they sell for a good price? If so, the neighbourhood is probably in demand.
If people want to live there, it’s a desirable area.
•Business investment
. Are businesses investing in the surrounding area?
Is there an increase in the number of upscale shops, health clubs,
restaurants, and other commercial enterprises that often locate near
desirable neighbourhoods?
•Community involvement
. Are there signs that the community plays an
active role in the look and lifestyle of the neighbourhood?
Are there neighbourhood picnics, yard sales and other get-togethers?
Check to see if the neighbourhood has a community
. Find out what plans the city has for the area. Will there be road
improvements done in the near future? Are there any major construction
projects on the schedule, such as a new school or community centre.
Although such projects can be disruptive in the short term, they may
improve the neighbourhood and, as a result, boost the value of any home
you buy in the long term.
Of course, the best way to find out the desirability of a neighbourhood is to
talk to a good REALTOR® who knows the area. Call today.
Team Metherall
RE/MAX Landmark Realty Inc. Keswick Brokerage

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