Selecting a home is about more than about the specific property. Every neighborhood has a unique set of people, events, and features. Many factors may influence your decision to buy a property. This blog contains neighborhood selection guidance for MA home buyers.
What to Learn
Every neighborhood falls into a specific school district, and each can vary in rating. Determine the school district boundaries prior to selecting a property. School information can typically be found online. You may also choose to contact schools directly for more advanced information or to schedule a visit.
Real Estate Market Trends
Real estate is all about location, location, location. Compare the home values in the specific neighborhood as it may differ from others and from the overall city. Average sales price, number of homes sold, and average listing time can tell you how desirable a neighborhood is and how well homes there moves. A local real estate professional can give you this information. Analyze not only figures for the current year but also for past years.
Take the time to tour a neighborhood before submitting an offer on a property. Find the local amenities such as recreational areas and shopping center. Visit at different times of day to see traffic patterns. Review the condition of neighboring properties. Look up local crime rates on the Internet and by contacting the local police department. Speak to neighbors as they often offer information not posted on public sources. All of this will help you get a better picture of the area before making an investment in a property.
Understanding Any Restrictions
Read the deed and other records for a property and pay close attention to any covenants, restrictions, and charges. If you have specific plans for the house, check for rules specific to those repairs. If in a subdivision with private roads or shared features, inquire about monthly fees and how often they may change.
Research the general area and the specific neighborhood online. This will expose any recent news or public records. Look particularly for any contested changes or other news that may alter the quality of life. Neighbors may also be a great resource for this type of information.
More Neighborhood Selection Guidance For MA Home Buyers
Purchasing a house is a major investment. Researching the items above will better educate you on that investment. Consult with a local real estate professional for advice on different neighborhoods and for more neighborhood selection guidance for MA home buyers. Using the services of a real estate agent may also make the home purchasing process less stressful. This information was prepared by Christopher Graves at Emery Federal Credit Union. Contact Christopher at 978-376-5389 or email@example.com for additional information on and other steps in the home buying process.