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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