Buying a home is an emotionally charged process. Many people go home searching without giving enough thought and research to the neighborhoods they’re looking in. While most people will consider the school district and their distance and commute to work, it never occurs to them to consider these lesser known factors. Here are the Top Five Things people fail to consider about the neighborhood:
#5 – Association Fees and Rules – In certain neighborhoods, homeowners are responsible for added expenses above and beyond just real estate taxes and homeowner’s insurance. Does the community charge homeowner’s association dues? Are the streets publicly maintained? Or are you responsible for your own trash pick-up and snow removal? Are there rules regarding what you may or may not do? Are you allowed to paint your front door your favorite color or fence in your yard? It’s best to find out before making an offer.
#4 – Noise – While some buyers are unfazed by noise, it can be an issue for light sleepers or people who value peace and quiet. Is the house under an airport takeoff or landing flightpath? Can you hear noise from freeways or nearby railroad tracks? What about at night when sound often travels further?
#3 – Water Pressure – Imagine moving into your new home and finding out there’s not enough water pressure for one person to shower while someone’s in the kitchen washing dishes. Or when someone flushes the toilet in another bathroom, the shower becomes scalding hot. Best to check this out beforehand.
#2 – Neighbors – Have you met the neighbors?? Are they more like “The Walton’s” or “The Adam’s Family?” Are they friendly and outgoing, or are they recluses? Try to meet the neighbors and get a sense for what the neighborhood is like.
The Number One Thing People Fail to Consider About a Neighborhood is something I hear people complain about all the time. Yet almost no one thinks to check this beforehand!
Want to know what it is? You’ll have to contact me to find out.
Warren Goldberg is President of Mortgage Wealth Advisors, a Certified Mortgage Planning Specialist®, and a published author. His interviews include Blog-Talk Radio, Newsday, The Daily News, Anton Press, and the Long Island Herald. Since 1992, he’s been sharing his financial knowledge and wealth-building strategies, including how to properly use your mortgage as a financial tool. His clients regularly express their trust and appreciation by recommending friends and family call when in need of mortgage, real estate, and financial guidance.