In Buying a Home, You're Also Buying a Neighborhood!

August 18th, 2017 | Home Purchase

Choosing a Neighborhood to Buy a Home

When You Are Buying a Home, You are also Buying a Neighborhood.

It is important to access the last 6 to 12 months of property sales to see the probable
current home value.  Also check the percentage of owner-occupied properties versus
rental properties.

An excellent idea is to knock on doors and talk to the people living in the neighborhood
and ask them for their input.  You may be surprised at how honest and insightful people
can be about where they live.

It is important to either walk or drive around the neighborhood at different times of the
day. Check out the schools in the area and also if there is any public transportation.

Location- How long are you from work?  Traveling time can cost money and time.
How close is the supermarket?  Shopping malls?  Traffic?

Utilities - Ask the previous owner for a utility history or ask the utilities companies
plus the names & services the internet and cable carrier for that area. Inquire, Inquire.

Schools - Usually families with children often select a school district before choosing
the home.

Property Value & Taxes-  Check the last 12 months of home sales in the area and
how many homes are rentals as compared to owner-occupied.  When was the last
time property taxes have increased and if there are both city and county property taxes.

Look for any new construction in the area as growth can mean  increase of future
property value, but it can also mean higher taxes and possible traffic congestion.

     Questions?  We've got Answers!  Give us a call at (901) 388-1588 today!


Serving the Great Mid-South Region
Offices: 901-388-1588 or 901-476-9100 |
Fax: 901-388-6202 | Email: info@1stophomeloans.com
1 STOP MORTGAGE | NMLS#215671 | TN Lic#108931 | 5909 Shelby Oaks Dr, Suite 129, Memphis, Tennessee 38134