Editor’s Note: This story originally appeared on Point2.
Whether by choice or not, the average person’s housing requirements have changed in the last two years: Internal migration toward the suburbs — fueled by a need for more space, as well as remote work adjustments — has resulted in a change in the socio-economical makeup of some residential communities compared with early 2020.
So, where does that leave homebuyers researching potential neighborhoods in today’s housing landscape? Well, for individuals whose plans were postponed due to the pandemic, their original neighborhood of choice might look slightly different nowadays.
Of course, there are plenty of things to consider when buying a house. So, to make house-hunting easier in today’s rapidly changing market, Point2 put together a checklist on how to research a neighborhood.
1. Evaluate Current Needs
What you require from a home now might be different than what you were looking for a few years ago. For instance, with employment becoming increasingly location-independent, accessibility and shorter commute times are less important now than space and quiet surroundings to conduct your work from home when necessary.
Additionally, the number of families in the area might have dwindled — replaced by young professionals fleeing overpriced hubs while working remotely. Similarly, the median age within the community might have decreased or increased. In that case, the neighbors you might have had two years ago may not be the same as those you would have now.
For these reasons, it’s essential to consider what matters to you and your lifestyle now: Is it accessibility? Is it reliable neighbors in a tight-knit community? Perhaps it’s the local business scene that you could frequent. Whatever it is, make sure that the neighborhood you’re about to call home has it.
2. Check Out Latest Local Real Estate Activity
Looking at recent real estate activity is a surefire way to determine property value in the neighborhood of your choice. Plus, it can also offer a pretty good picture of the neighborhood’s comings and goings, as well as the level of cohesion.
As an example, too many listings could be a warning sign when buying a home: It could signal that the neighborhood is in decline.
Specifically, a lot of homes for sale could indicate a possible drop in property values, as well as a lack of stability within the community or other negative factors that might alienate its residents. At the same time, limited listings might signal that the neighborhood has plenty of long-term residents.
With that in mind, check historical data on how housing prices in the area have fluctuated throughout the years. This can also help you determine whether the house itself would be a good investment.
3. Explore Online Resources
You can’t overlook what the internet has to offer when exploring the places, schools and job options that are right for you. So, after you finish looking for an aerial view of the neighborhood on Google Maps and checking public Facebook groups for the latest community buzz, make sure to delve into neighborhood-related online resources, as well.
As a future resident, keeping up with neighborhood statistics can also allow you to get an objective and unbiased picture of the neighborhood makeup.
Specifically, trusted online resources — such as Walk Score®, Niche or CrimeMapping — allow for data breakdowns and even comparisons to other neighborhoods on a wide range of important stats. Some include accessibility, safety, employment, cost of living, diversity, family-related data, health and fitness options, nightlife, and so much more — even the weather!
Most important, you can also access real reviews and survey answers from actual people who live or used to live in the neighborhood you’re considering moving to. Other online resources that might come in handy are CityData, CityProtect, NeighborhoodScout, Nextdoor and AreaVibes, among others.
4. Ask Your Real Estate Agent
Online research is a key resource in choosing a neighborhood, but nothing beats talking to a real person. Granted, talking to existing residents and taking a few strolls around the block is a good idea, but chances are that the person who knows best about what has transpired lately in the neighborhood is your real estate agent.
Therefore, ask questions that are relevant to you and your lifestyle and look for honest answers from your real estate agent. Specifically, focus on what caters to you and steer clear of biased opinions. Real estate agents can also help you weigh the pros and cons, as well as get a sense of what living in the area might look like.
5. Get Information on the School District
Whether you have or plan on having children or not, don’t forget to find out which school district your future neighborhood is in. This is important for a number of reasons.
First, even for residents who don’t plan on having children, a good school district is correlated with a good neighborhood overall. It implies walkability, safety and resident stability, which increase home values.
Additionally, parents and future parents might also be curious to research how local schools have adapted to the changes during the pandemic. This allows residents with children to see how adaptable the schools in the area are, as well as whether they would go the extra mile in committing to the students in the face of adversity.
6. Take Expert Advice
Finally, when calculating your best housing options, nothing beats an educated opinion. Experts in urban and regional planning, as well as public administration, can be great sources of information on which direction to take.
Gillian Manning
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