Real estate location may be one of the more important items to include on your house search list, but it is by no means the only consideration to keep in mind. Real estate investment also means getting a return from your investment; so in addition to location consider town services, attitude and social commitment.
Next door and across the street
Getting your real estate investment out of your home depends quite a bit on your local neighborhood and who is in it. In all likelihood the people that buy your home will be just like you were several years ago. So consider the character of the neighborhood you are moving into. Are there lots of kids in the area, are the homes all 2 and 3 bedroom split levels or are there mic-mansions about? Taking these thoughts into consideration will not only make your stay in the home better it will help with your real estate investment return.
How does the town feel?
It may be an odd way to look at real estate location but taking a walk down the main drag and into a few shops goes a long way in figuring out who you’re going to be living with for the next many years. If you find a bunch of scowls from behind the counter that could reflect how the counter person has been treated that day. Next, walk around a few neighborhoods and see if there are occupied porches with neighbors greeting one another, You might also notice if, in addition to your neighborhood, cars racing up to stop signs and jackrabbitting away from them.
Community service
Even if you are not a church going person, take some time and drive around town on a Sunday morning. If the churches are fairly full when they let out or the parking lots and streets are lined on Sunday morning you can make the leap that this real estate location is one where people have relatively decent morals. Add to this a scan of the local paper to see what community events are being promoted. This will give you an idea of where your real estate investment is located in terms of community spirit. Of course you will want to show up to a few events to make sure people do to.
Town services
The big one here is schools. Don’t just ask around and take it on assumption that just because other parents are happy with the schools you will be to. Check out how the town has been spending its education dollars. Have they been keeping pace with technology? Have they upgraded buildings to match today’s needs? Additionally, check out the town taxes and where they’re being spent. Is the police force well funded? Does the DPW have enough money to keep the roads pothole free? What does the library look like? Lastly, check out the tax base so that your real estate investment doesn’t go down the tubes because half the people in town lose their jobs.
Wednesday, November 26, 2008
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