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
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