This is probably the single most important consideration
to keep in mind when buying a home. In the real estate business,
it is said that three things count in establishing property value:
location, location, location. Houses may be updated, renovated,
and improved, but neighborhoods and communities tend to retain
their basic character and market value over periods of time.
Is the home in a safe neighborhood where people want to move,
buy homes, and raise families? Is there access to schools,
transportation, and shopping? Is the area run-down,
filled with high crime, or noisy? Are people moving away
to better places to live? Look for an area where homes sell
quickly and easily. It's a good sign if houses stay
on the market for less than three months; if it takes six months
or more for homes to sell, look elsewhere. Avoid neighborhoods
with a large number of undeveloped lots, abandoned homes, poorly
maintained homes and yards, a large number of FOR SALE signs,
or mixed zoning (commercial and residential together).
This Homebuyers Tip was excerpted from:
How To Buy A House, Condo, or Co-op, by Michael C. Thomsett and
Consumers Union of the United States, Inc., 1996,
ISBN# 08904438331
