Top 10 Red Flags For Homebuyers - #2 Mass Exodus From The Neighborhood

How to Choose a Neighborhood

5 steps to finding a place where you belong

Mass Exodus From the Neighborhood

Don't let a home's curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too. Just do it before you're stuck with a bad investment.

If houses are like spouses, a neighborhood is like the extended family. But while you can have a good marriage and still dread holidays with the in-laws, you'll never love a house if you don't like your neighborhood.

How can you choose the right community? Become a neighborhood detective. Figure out what you're looking for, do research and find a neighborhood that fits your description. You don't even have to wear a trench coat -- but it probably wouldn't hurt.

STEP 1 -- Profile Your Perfect Neighborhood

Before you start scrutinizing neighborhoods, turn the magnifying glass back on yourself.

Think about what you're really looking for in a new neighborhood. Remember, you'll probably have to make compromises, so put the "must-haves" at the top and the "would- like-to-haves" at the bottom. Not sure what fits your lifestyle? Here's a list of 12 types of neighborhoods to get you started.

Here are some things to consider:

• Do you have children or are you planning to have children anytime soon? Parents know that the first thing to do when looking at a neighborhood is to research the school system. Even if you're single, living in an area with a much sought-after school system raises your property value. If you have kids, you'll also want to live close to parks and community centers.
• What type of home do you want? Are you interested in a single-family home or an apartment, townhouse or co-op? Read more about the different types of homes.
• How far are you willing to commute? Do you plan to drive, walk or take mass transit to work? Do you have a car or would you be willing to get one?
• Do you want to be in a historic neighborhood or a new development? Historic neighborhoods have tons of character, but often require lots of repair work and are governed by community associations with strict standards. Newer developments have more modern features, but are typically far from the city center. Read more about the different types of architecture styles.
• What is your current community lacking? If you're currently landlocked, but have always wanted to live on the waterfront, put that at the top of your list. If you're a coffee junkie, having a Starbucks down the street may be a dream come true.
• Do you want to be able to go places on foot? Would you like to be within walking distance of shops, restaurants and bars? Or would you be willing to drive to nearby businesses?
• Think about what you don't want in a neighborhood, too. If you can't stand late-night noise, you'll probably want to steer clear of the college area or an area with a lively bar scene.

By Liz Gray, FrontDoor.com | Published: 2/25/2008

via frontdoor.com

Bob Abner (Huff Realty) is a well-respected, top Realtor in the Northern Kentucky/Greater Cincinnati real estate market with vast experience in the real estate industry. For Northern Kentucky Real Estate Listings and Home buying and selling Information visit: http://www.BobAbnerHomePros.com