How to pick a neighborhood
Kelly Shea
What you need to know about assessing an area before buying a home The prospect of finding the ideal home or apartment is daunting on its own, but add on top of that the pressure to pick the right neighborhood to live in, and you?ve got yourself an anxiety-inducing set of decisions to make.
If you?re new to a city, choosing a neighborhood can feel overwhelming, but even longterm residents can struggle with this when it comes time to buy. Would-be homebuyers may have a neighborhoods they love, but with the rising costs, they often find themselves priced out of familiar territory. The budget-minded buyer wonders: What areas can I actually afford" Which ones will be a good investment" And where will I (and my family) be happy" Making a good fit in your neighborhood choice requires research. ?There are both qualitative and quantitative factors,? Constantine Valhouli, co-founder of the real estate research firm NeighborhoodX based in Boston told Curbed in 2017. ?The numbers will never tell the full story on its own, but the anecdotal doesn?t tell the whole story either.?
Buyers should prepare to study every number they can get their hands on including, asking and selling prices and the neighborhood?s absorption rate (don?t worry, we?ll explain what that is below!). You?re also going to have to pound the pavement to see what?s actually happening IRL?like the new coffee shop on the corner or the state of the local bus line. Here are a few tips to h...
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