What are the Signs of a Neighborhood on the Upswing
Old Growth Neighborhoods can be a Goldmine!
Over the years, neighborhoods become seasoned and change. Families grow up and housing demographics change. This is an opportunity for many to get into a community that is on the rebound which might have been considered a neighborhood in disrepair in the past. It’s a real opportunity for many home buyers. So, what do you look for in choosing a neighborhood on the upswing?
1. Quiet Street. Drive around and see if the overall community is clean or becoming cleaner. Are the lawns being trimmed and plants manicured? Is there litter on the sidewalks? Do more people care about the community now. Are new community groups talking about a grand plan for raising the level of the look of the community? You can often find out about that issue by visiting the city hall.
2. Are utility companies investing in the community? For example: is Verizon adding fiber optic in the community? – This is a good sign that major corporations have done some research in the area with positive results.
3. Are the parks well maintained? Are there plans for a dog park or other community experience?
4. How close to the local stores is the property you want to consider. Are new small businesses being added to the local community. Go to the city hall and see the rolls on the number of new business in the community. That can be a great indicator as to positive developments.
5. Talk to a Realtor in the area and ask them about any information they can provide you regarding: (a) schools. (b) Doctors and hospitals (c) Grocery stores and shopping centers. (d) Entertainment and recreational facilities. (e) Safe outdoor parks and nature spots.
6. Check the local crime stats and also check the Megan’s Law website to determine if the neighborhood has child predators.
The reality is that you can often get a great deal if you choose to purchase an older home in an upswing neighborhood. We at LendPlus Financial can help you get started by making sure you are pre-approved for a loan, which gives you negations power when you decide to make an offer. We can even suggest a time tested Realtor to help you.