New home buyers usually choose a house in an area near family or friends, but other factors may influence where you want to shop for your new home.
The decision to live in an area you are familiar with makes it easier, since you know the school system (probably even went to it), the crime rate, the commuting distance to work, and where all the malls, restaurants and parks are.
If you simply have determined that now is the right time to buy a home, and you don’t really have an idea where, the starting point may be more difficult to locate.
One of the most important things people think about is how far the house will be from their jobs. This may not be the case for retirees, of course. But home prices are usually higher in areas that have a lot of job opportunities, such as near urban centers.
The next criteria most people want to examine is the quality of the educational system. For families with children, the reason is clear, but even retirees and childless couples should evaluate the school system since this factor has such a major implication for present and future housing values.
Cost is the next major criteria, and this is when the balancing act comes into the act. Pay a little extra for gas or public transportation, as well as in time, and decide on the cheaper home, further from work? Or perhaps in the long run you will do better if you pay additional for a home within an easy commute.
There are many other costs that a specific area or town can add to the cost of a house. Many buyers have done an analysis and found it works out the same or cheaper to buy in an area with low housing prices and send their children to private school than to pay an exorbitant price and high taxes for a house in a better area.
Taxes are a major factor in picking a location. The real estate listing should give you current tax rates, but look further. First of all, if there have not been any recent assessments, be careful, since you may be reassessed shortly. Find out if the owner has made substantial improvements (new bathrooms or kitchens, pool or fireplace) since the last assessment, as this will really add to the new tax bill.
Another thing to be aware of is whether the town is growing quickly and will need additional taxpayer dollars to support that growth. Just imagine if the town voted in the construction of a new school right just after you bought your home. Does this particular municipality have a reputation for frequent increases in taxes?
Gathering this type of relevant information will make it a lot easier for you to decide upon your dream home in your dream town.
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