Important factor when buying a house – Neighborhood
Whether you’re a first-time homeowner or moving on up the property ladder, home buying can be tricky. How do you draw the line between a money pit and a diamond in the rough? Here are three things to keep in mind. Depending on the circumstances, these might be reasons not to buy.
Neighborhood. Unlike the rental world, where neighbors last a year, a house is a long-term commitment. Your neighbors when you move in may very well be your neighbors for some time to come, and that’s something to keep in mind when looking at a potential new home.
Also consider proximity of the house to things like schools, stores, and major roads.
If there’s a highway nearby, some questionable properties, an unfriendly feeling, or anything else that feels uncertain, it might be wise to give that house a pass. After all, you might be able to fix your house, but you can’t fix your neighborhood.