Choosing the Right Neighborhood

When buying a home, the neighbourhood you select will not only play a pivotal role in your family’s life, but in the resale value of the property.

One person’s ideal neighbourhood however may vary greatly from another’s. But, regardless, there are some needs and wants that generally do not change. The distance from your new home to schools, churches and shopping, for example, will not only affect how you and your family settle into your new home, it will also draw or turn off a perspective buyer.

A good first step is to enlist the services of a REALTOR® who works in the area you are thinking of moving. REALTORS® are very familiar with the communities in which they work and can answer many of the questions you will develop during your search.

Location, location

In addition to finding the right neighbourhood, consider the immediate homes around the particular property you want to buy. Are they well maintained and worth the same or more than the home you are considering?

Is the location a quiet area or a major traffic thoroughfare? What kind of privacy does the backyard provide? Does it get the morning or afternoon sun? If there is no house behind you, who owns the property and how will it be developed?

If you have kids in school, what kinds of schools and services are available? Will your kids have to be bused to their school? If a school is close by, will they have to cross any major intersections?

Finding malls, grocery and specialty stores in urban, residential areas is rarely a problem. But in neighbourhoods further away from urban areas, you may need to drive to the nearest convenience store. And getting to the local grocery store, pharmacy and other support services may require an even longer trek.

Finally, if your heart is set on finding that one-of-a-kind 150-year old Victorian home, you’re not going to find it in a newer development. If you want large bedrooms and bathrooms, narrowing your search to an older part of town where homes are generally smaller, may prove disappointing.

Before making any decisions, think of your lifestyle and how a particular location would enhance or detract from it.

Source: Ontario Real Estate Association