Buyer Neighborhood Selection

which neighborhood in central Ohio is right for me?

Finding a place to call home is more than about the appearance of the home. It is important to take into consideration the surrounding neighborhood. Each neighborhood has different advantages and disadvantages that should be kept in mind before purchasing a home such as school systems, the area’s real estate market, neighborhood amenities, taxes, crime rates and more.

Assess the School Systems

If you have children or are planning to in the near future, identify school systems you would like to be a part of and begin your home search based off the school systems you are most interested in. GreatSchools is an online resource that helps you find the best education systems in your area. Keep in mind that if you like an area, but do not like the public school options, private school’s are always a choice, but will cost you more down the road.

Check out the real estate market

Real estate is most importantly about location, location, location. Review the home values in the particular neighborhood as it may differ from others or from the general town. Median selling price, number of transactions, and average days on market can tell you how popular a neighborhood is and how quickly properties there sell. A local real estate broker can provide this information to you or websites such as Trulia can give you what you are looking for. Look at not only information for the current year, but also for previous years.

Neighborhood Amenities

When visiting neighborhoods you are interested in look for any amenities they may have such as a fitness center, swimming pool, tennis court or park area. Amenities may be a determining factor for your neighborhood choice, especially if you have children or plan to have them soon.

Keep in mind that many amenities come with a fee though. If you see amenities in the neighborhood be sure to ask your realtor or residents in the area if their is a fee and what it is to determine if the amenities are worth the cost.

What are the tax rates?

The neighborhood you live in determines the amount of property taxes you will pay and will play a significant role in your finances. According to Money Crashers, you should “consider local sales tax, income tax and tax credits and exemptions when looking for the perfect place to live.” Use the Tax Foundation to learn more about tax rates.

research the crime rates

Safety should always be a top priority when determining where to live. It is important to do your research and find out the crime rates and what kind of crime occurs in the area you are looking to live in. This can found on real estate websites, from your Realtor or from the residents in the neighborhood. Crime Reports is also a great resource to use before settling on a home.

Selecting the right neighborhood

Purchasing real estate is a major investment. Looking into the school systems, past and present real estate market, amenities, tax rates and crime rates will better educate you on your investment. Selecting the right neighborhood takes time and research, but hopefully these tips will make it easier for you!