When it comes to real estate, location is everything. That’s why it’s so important to do your homework before buying or selling a home in order to ensure that you’re making a wise investment. But how can you tell if a neighborhood is on the rise? Keep reading for our top 10 tips.
1.Check the Crime Rate
One of the first things you should do when considering a move to a new neighborhood is to check the crime rate. Websites like NeighborhoodScout can be a helpful resource in this regard. A high crime rate is often indicative of other problems in an area, so it’s best to avoid such neighborhoods if possible.
2.Look at Home Prices
Another good way to gauge whether or not a neighborhood is on the rise is to look at home prices. Have they been steadily increasing over time? Are homes in the area being snapped up quickly? If so, it’s a good sign that the neighborhood is on the up-and-up.
3.Research the School Districts
If you have or are planning to have children, then it’s essential that you research the school districts in any potential neighborhoods you’re considering. A good school district means higher property values and a better quality of life for residents. It’s always a good idea to visit schools in person and talk to parents and teachers before making a final decision.
4.See What New Businesses Are Moving In
One of the clearest signs that a neighborhood is on the rise is an influx of new businesses. If you see that trendy restaurants, coffee shops, and other businesses are moving into an area, it’s safe to say that property values will soon follow suit. Keep your eyes peeled for “for lease” signs and billboards advertising upcoming developments.
5.Ask Local Real Estate Agents
If you really want to get the inside scoop on whether or not a neighborhood is on the rise, your best bet is to ask local real estate agents. They likely have their finger on the pulse of the local market and can give you insights that you may not be able to find on your own. Plus, they might even know about up-and-coming neighborhoods that aren’t yet on your radar!
Making a move? Then you’ll want to do your due diligence first to ensure that you’re picking a winner of a neighborhood. Use our tips above as a starting point in your research and we guarantee you’ll be moving into an up-and-coming area in no time!