City Or Suburbs: Where Should You Buy A Home? (4 of 4)

Safety

While crime rates and data vary depending on the specific location, overall, the suburbs have a reputation for being safer. Obviously if this is an issue for you, you'll do your due diligence to ensure the safety of your family. It's important to keep in mind, though, that transitional neighborhoods can provide a great value for money-conscious homebuyers - as long as you're willing to put up with some potentially unpleasant realities while the transition is under way.

This guide from Forbes can help you identify a neighborhood that's about to take a turn for the better and might be a good buy. Or, you can heed these tips from Property Brothers' Drew and Jonathan Scott. "This is when it's really important to work with a real estate agent that knows the area. Proximity to downtown, transit, shopping, amenities, and schools are really important," they said on POPSUGAR. "You can also go to the city planning department and find out any major developments that are going into the different communities. Also, drive through the neighborhoods that you are considering and look to see if there are a lot of recent sales. Trying to invest in emerging communities can be risky, so if you are new to real estate, then we suggest sticking to areas you are comfortable in."

Age of properties

If you want something newer, it may be harder to find in the city. Infill projects tend to be rarer, depending on the location, largely because of their cost. "Real estate is generally more expensive in infill locations than in outlying areas because land is relatively scarce, sites are closer to services and infrastructure, and zoning and the market often support uses that have higher revenue potential," said the EPA. "However, the assembly process itself involves additional costs." And then, of course, the higher cost has to be passed on to the buyer, which ties right back in to that affordability issue.