Choosing a Suburb
To help you find the right neighbourhood, it helps to:
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Create an attribute list.
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Use a neighbourhood location service on the Web.
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Research neighbourhood sales trends.
Attribute checklist
Picking a home often starts with finding the right neighbourhood. Are you looking for an urban or rural setting, or do you prefer the suburbs? Consider the tradeoffs in commute time, quality of schools and access to recreation and services such as shopping. Look at the composition of the neighbourhood you're interested in. Is there a neighbourhood association that actively participates in community issues? Is the neighbourhood made up mostly of homeowners, or are there many renters? Is the neighbourhood patrolled regularly? It's likely that the quality of life in your neighbourhood will determine how happy you are in your new home.
Consider using a checklist of attributes that you deem most important. You may wish to rank them in order of importance. Here's an example, ranked arbitrarily, of an attribute checklist:
Sample Checklist
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"How long will my normal commute be?"
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Minutes
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"Is there reliable public transport?"
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Yes
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No
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"Are the stores conveniently-located and appealing?"
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Yes
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No
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"What is the reputation of the public/private schools?"
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Yes
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No
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"Is there a vibrant community spirit?"
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Yes
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No
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"Is the neighbourhood cyclist-friendly?"
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Yes
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No
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"Is the community diverse, ethnically and professionally?"
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Yes
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No
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"What kinds of crime occur?
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Yes
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No
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"Are there affordable restaurants and services?"
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Yes
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No
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"Are there parks and public spaces in the area? "
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Yes
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No
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"Are there hospitals and doctors clinics?"
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Yes
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No
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Research neighbourhood sales trends
Analysing recent home sales in your target neighbourhood is helpful. Using your realtor, check for prices and number of homes sold. Be sure to look at comparable sales: '3-bedroom, 2-bath homes with 2,000 square metres', for instance, if that's the size of home you are looking for.
Look at the number of home sales over time and the sales price. Are there more sales in the past six months than in the previous period? If yes, this suggests increasing demand for homes in the neighbourhood. Rising average sale prices is also a good barometer of the neighbourhood's appeal.
