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Local neighborhood

The term “local neighborhood” refers to an area wide enough to cover your residential area plus nearby stores such as the “neighborhood grocery store.”  

You want to be sure all essential shops and services are located nearby. This would include grocery stores, gas stations, dry cleaners, and convenience stores. There should also be fairly convenient access to local highways, major traffic routes, and mass transit. If your local shopping center is in decline, it could be an indicator that the local neighborhood is in decline, too.Check to see if a lot of storefronts in your local center are vacant or available for lease.If they are, you might want to consider moving your purchase a few blocks. 

THE RESIDENTIAL NEIGHBORHOOD. Within your residential neighborhood, if possible, buy on a road that is not used as a shortcut between two busier streets. When choosing to buy a house on a corner lot, take into consideration the street traffic and safety for children. You might want to consider buying in the middle of the block or on a cul de sac instead.   

NEIGHBORHOOD FACTORS TO CONSIDER. Look for things like access to major thoroughfares, highways, and shopping. Listen for noise created by commerce, roads, railways, public areas, schools, etc. Smell the air for adjacent commerce or agriculture. Check with local civic, police, fire, and school officials to find information about the area. Look at traffic patterns around the area during different times of the day and drive from the area to work. Is the neighborhood near parks, recreation centers, shopping, theaters, restaurants, public transportation, schools, etc.?  

SCHOOLS. Even if you do not have school-age children and do not intend to have children, you must pay attention to the local school system. That is because when you sell the property, many of your potential buyers will have concerns of this nature.   

You will want to know if the local schools are overcrowded. Take a drive around and see if there are auxiliary trailers outside the local schools. Call up the local school district and see if elementary aged children always attend the school closest to their home. If not, ask why. Are there enough schools to support the local population? If not, are there plans to build new schools? How will building new schools affect local property taxes?  

You should also check to see how local students score on the standardized tests. You can ask your agent about these things, but you should also get the local phone numbers so you can ask yourself.  

LOOK TO THE FUTURE. Although you are buying a home to suit your needs right now, there is a good chance you will sell it someday. Keep in mind the following suggestions to maximize your re-sale value.