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Buyer Tips
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This stage of your market research is done on the scene, driving or
walking slowly through the streets. That's the only successful
way to canvass a neighborhood.
What, exactly, defines "a neighborhood"? It may be a
grouping of houses around a physical landmark, such as a park, marina,
valley, or hill. It can be as small as one block or large enough to
surround a fashionable shopping area.
When you start looking for a neighborhood, think about what you want
in terms of proximity to people and goods and services. Do you want to
be close enough to stores so that you can get there on foot or
bicycle? Do you want a closely knit community where everybody knows
everybody else, or a more impersonal place? A huge apartment house can
be a neighborhood all by itself, where you nod to people in the
elevators for years without ever knowing their names.
Drive around and investigate neighborhoods in the car, then get out
and walk around those that really interest you. You learn a lot on
foot! Ideally, you shouldn't tackle more than three neighborhoods in
one day, because no matter how good an observer you are, communities
will start to blend together in your mind.
If you see a "For Sale by Owner" sign as you walk, go into
the house and look around. If you seen a place under renovation, stop
and speak to the contractor. Or if you notice an ad about a
neighborhood block association meeting or a house tour, take advantage
of it. You want to educate yourself as much as possible about the
community before you even begin to think of buying there. It's like
marriage - you've got to know the man before you make the big
decision.
What are you looking for as you scout around an area?
•Are yards well landscaped? Or are they filled with weeds? Are there
broken-down cars and bikes in the yard? That's a sign of sloppy
homeowners and lack of community concern. •If you're looking in a
city, are there vacant lots? Boarded-up stores? How long have they
been that way? The neighborhood may be in a state of deterioration.
•Do children play in the streets? This could be good or bad. It
might be a sign of a safe community, or it could indicate that there
are no playgrounds or parks available. Cul-de-sacs or dead-end streets
are very desirable for kids, since they mean no speeding traffic.
•Do you see older people sitting on porches as well as children
outside? A sign of good balance in the population. •Are the
residential neighborhoods sprinkled with commercial establishments?
Many homeowners like having a corner grocer, a few boutiques, and some
popular restaurants nearby. Of course, the encroachment of shopping
malls or industry with large parking lots would be a different story.
•How close is the nearest highway? Do you hear a lot of traffic as
you walk the streets? Is it safe for kids? •How's the public
transportation? Is it near enough to be convenient but distant enough
not to be noisy? •Are you too close to the airport or a railroad? An
all-night disco? Noise pollution could be a problem. •If you're
looking in a city, are there iron bars on all the windows? This sign
is self-explanatory-who wants to live in a prison?
Make yourself a list of pros and cons. No one neighborhood will be
perfect, but there will be some whose faults you can overlook because
their positive qualities overcome their liabilities.
This Homebuyers Tip was excerpted from:
The Smart Woman's Guide To Buying And Renovating Real Estate
For Profit, by Suzanne Brangham, Clarkson N. Potter, Inc.,
1987.
ISBN# 0517560038
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