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
