Factoring Neighbourhood Quality into the Home Buying Decision

Home BuyingSearching for one’s dream home is an extremely tough endeavour, mainly because people tend to be too idealistic at times. So, when all else fails, several homebuyers put aside their particular criteria for a property to focus on the immediate community instead. But, prioritising between these two can be challenging, especially for first-time homebuyers. So, which is which: the community or the property?

What Makes a Neighbourhood ‘Ideal’?

House and land packages come in various shapes, sizes and styles. As such, judging them can be difficult. Desirability standards for a residential property can vary greatly from Hoppers Crossing to Melbourne and everywhere else in between. Communities, on the other hand, are much more straightforward — it’s easy to discern a good neighbourhood from a bad one.

It’s a fact that a good community promotes sociability. In a neighbourhood, you can’t possibly live a worthy life if you don’t have many opportunities to coexist with neighbours. A good number of spots where people can get together is an indication of a desirable community; whether it’s a collection of parks, dining and/or shopping establishments, or any other.

A good community is accessible and well-equipped. Unless you actually aim to live off the grid for a time, there’s no reason for the property to be far away from basic public utilities and services. Educational institutions, commercial establishments and all related services which are either within the community’s bounds or near it point to a desirable locale.

Red Flags to Watch Out For

An increasing number of short sales, foreclosures, and vacant properties scream at buyers to not take their chances. At times, realtors claim that even the number of rentals in a community is also a cause for concern. Lastly, large-scale construction projects near the property can also spell trouble. It means the community is still not accessible enough by common standards.

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You may lower your expectations of an ideal home, but not come up disappointed. It’s because even the most modest of properties can be a joy to live in if the surrounding community is great.