What To Check When Relocating To A New NeighborhoodBy Stephen M
Everyone’s wish is to live in a neighborhood with a serene environment, free from crime, huge traffic, noise pollution, etc. Unfortunately, life isn’t a fairytale where you get whatever you wish for. Every community has a peculiar problem related to it, and residents need to deal with it.
That notwithstanding, you can still get a neighborhood with fewer problems. As you seek to relocate, don’t just settle for anything because you are out of time; be vigilant and attentive. At least it will help protect your investment and any future resale. Here are some red flags to look out for.
Too many inventories from the neighborhood
Homebuyers love it when there are many options to choose from. Many inventories on the market also mean lower home prices, which is actually good. However, if you have a lot of inventory from a particular area, there should be a cause for alarm. Is it because the area has a problem or the homes have peculiar issues like cracks? Some areas are prone to floods or earthquakes, making living there a risk and costly due to maintenance. There may also be issues like the emergence of high crimes rate and other social vices.
If the area you are moving to is a homeowners association (HOA) community, check how it is managed. A poorly managed community affects home value, so any future resale may attract a low cost. So check how the common areas are maintained, the state of the homes there, and how law-abiding the residents are.
Check the maintenance culture of the previous owner
Some homeowners hardly maintain their homes, even if there are major works to be done. Buying such a home will surely be a major financial burden even if you buy at a cheaper price. Having many of such buildings in a neighborhood tell you the type/class of people who live there.
Lack of amenities
Does the area have an uninterrupted power supply, water, internet service, a clinic close by, schools, and a shopping center? All these are meant to make life better and more comfortable. If the neighborhood lacks most of these, think twice.
A neighborhood with more available homes than residents, tells you only one thing: nobody wants to live there. Even if there are more residents, ask yourself why you don’t see them out when driving through the community. It may be that the area is unsafe instead of them wanting to have privacy.