What to Consider when Searching for Homes

Demographics

Take a Look for Yourself- To get a feel for the neighborhood's personality, take a drive, or even better, walk around the block at different times of the day – once in the morning, then in the afternoon, and again in the evening.
Ask Your Agent- Your agent should be able to give you a sense of the demographics of your neighborhood. So to help your agent better help you find a home in the right neighborhood, tell your agent your expectations for the neighborhood you want to live in. Be aware however, your Realtor is ethically and legally bound to abide by fair housing practices so don’t ask him/her about protected classes.
Do Some Research- There are several good web sites which can help you get to know a neighborhood. One is the Census Bureau, another is HomeStore.com’s City Reports.

Location

Location, Location, Location- Ask your agent to name the top three factors that determine your home's value and almost guaranteed, your agent will say, "Location, location, location." Never a truer statement will be uttered. If you don't believe it, compare real estate prices in San Francisco to say, Kansas City. You can't hardly buy a 2-bedroom condo in downtown San Francisco for the price of a 4-bedroom house, with a 2-car garage, sitting on a quarter acre in Kansas City. That concept applies just as much from one side of town to another. Values for the same type of home can vary dramatically.
Go Outside and Look Around- Location will determine the resale value of your house more than any other factor. No matter how luxurious your home is, and no matter how much money you put into it, if you move to home 100 or so feet from a 24-hour gravel pit, you'll never get back what you paid for when you resell. On the other hand, backing up against a golf course will boost the value of even the most modest home.
The Principle of Progression and Regression- Remember this! For resale, it is always better to buy a modest home in an upper-class neighborhood, than an expensive home in a modest neighborhood. You may initially get more house for your dollar in the unpretentious neighborhood, but your equity will grow faster in the affluent neighborhood. The most expensive house in a neighborhood may never pay for itself. People who can afford to pay for what the house is worth would most likely choose buy a home in a neighborhood full of similar homes.
Drive the Neighborhood- In addition to the condition of the house you are considering, pay attention to the condition of the homes surrounding it. Are the homes well-maintained? Are the yards well-kept? You don't want a Sanford & Son's junkyard near your home, so avoid neighborhoods with jalopies, beat-up furniture, or other useless lawn decorations in the front yards. Those kind of neighbors will decrease the value of your home.

Neighborhood Safety

Spend Some Quality Neighborhood Time- Are children playing in their front yards unattended? If they are, their parents probably feel the neighborhood is pretty safe.
Call a Police Officer- You can call the local police department and ask about the frequency and nature of calls they have received from that particular area.
Speak to the Neighbors- Talk to the neighbors and ask them if they feel safe. Do they feel comfortable walking around the neighborhood at night? Does the area have a neighborhood watch program? Active neighborhood watch programs are often effective for preventing crime. If your potential neighbors are participating in a similar program, that's usually a good sign.

Price

Comparison Shop- The easiest way to know if you are getting a good price is to look at all of the other homes which are available for you to purchase. You will quickly be able to determine which ones are good values and which are not. However, it is easy to get confused when you look at numerous homes, so here’s a tip. After previewing each home and before you leave, stop, look around for something memorable (grandfather clock, color drapes, etc.) and make a note of it. This will allow for instant recall. Another tip is to immediately cross off properties which don’t beat your favorite one to date so you don’t even have to think about it later.
Get a CMA Before Making an Offer- Ask your agent to complete a Competitive Market Analysis (CMA) When completing a CMA, an agent will typically research the prices of other homes in the neighborhood which have recently sold, review houses which you have preview ed when looking at this one, and then consider what prices were being asked for homes which didn’t sell after six or more months on the market. Using this information, your agent will help you determine the lowest realistic price to ask for the home.
Look Past Cosmetics- Most buyers want a house that is in move-in condition. If you can see past the worn carpet and need for a new paint job, you can often find a jewel in disguise. Don’t hesitate to make an aggressive offer as more often than not, you are the first offer the seller has received. Work with your agent to find that line between reasonable and insulting.

Schools

Be a Detective- Finding out about the local schools could take a little detective work. Start by driving past the school or, if the school is not in session, park and take a walk around. Are the buildings well-maintained and free of graffiti? A clean, well-kept campus usually means the school is well-funded. It also indicates that the employees and community care about its appearance and, likewise, its academics.
Talk to Neighbors- Talk to your potential neighbors as well. How do they feel about the schools? Are they satisfied? What would they like to see changed?
Look at Enrollment and Test Scores- Find out about enrollment and recent test scores. If either test scores or enrollment have declined in the past year or so, call the principal or school district office and find out why. Has enrollment dropped because parents are taking their kids to a different school? Have test scores dropped because of poor resource materials, teacher apathy or lack of parent involvement?
Research News- Check and see if the local newspaper has a web site. If so, type in the school's or district's name in an archive search and see what the paper has been saying about the school as well as the issues facing the district.

Services

Distance From City Amenities- You might want to be as far from downtown as possible. Then again, maybe you'd like to be able to walk to the mall. The proximity of libraries, hospitals, post offices, shopping centers, theaters, restaurants, hiking trails – whatever you want near or away from you, will also factor into your purchase. After exploring the neighborhood, investigate the rest of the area.
Distance From Work- You 'II also want to consider how close your home is to your employment. Will you mind the commute, or do you want to be in walking/biking distance from your job? Maybe take the time on a weekday morning to actually drive the commute route from the home to your job. Or maybe the area is so perfect in every other way, that you just don't care how long it takes you to get to work. Only you can decide.

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