Morning loves!!! I’ve got a little hump day treat for you … TODD Talbot is taking over the blog today to offer up some advice on how to choose your next neighborhood as part of our mini Real Estate Series!!! Over the last couple of months Todd has given us some awesome insight on first time home buying and points on WHY you should consider purchasing real estate … if you missed these, make sure to check them out or share them with someone you think would find them useful!!!! Anyways … I will let him get to it … we all know how long-winded he can be … LOL!!!
Hey guys! Todd here! If I had a nickel for every time someone on Love It or List It, Vancouver said “I don’t want to leave my neighborhood,” I would be retired lying on a beach somewhere. I realize that folks fall in love with their ‘hood’ and that’s great, but there are an equal number of people who must move, either for work, school, lifestyle, or money. Whether you’re in the position to find a new neighborhood or you’re choosing a location for your first home, here are some things to consider!
1. You don’t know what you don’t know: Explore pockets of the city that you don’t know very well, there are hidden gems out there that just might be the best location for you. If you don’t know them, chances are they might be the next trendy spot that hasn’t hit the mainstream yet. Look at where the artists are living!
2. Think 5-7 years: It’s possible you might move earlier, but the average time in a home is around 5-7 years. Do your best to predict what the neighborhood will be like in that time frame and ask yourself if it’s where you’ll want to be in a few years time.
3. Accessibility: Focus on areas with a great ability to get around. The closer to transit, bike paths and easy traffic routes prove to increase in value faster than other properties – especially in urban areas. There is an increasing trend to get rid of the car and future value is determined by what the next buyer will pay.
4. Get Walking and Get Talking: If you aren’t comfortable doing it, get my dad to come with you. You need to walk and talk to everyone you can and ask for information about the dynamics of the neighborhood. Do people feel safe to walk their dog at 11PM at night? Is the coffee shop and restaurants super busy? That’s a good thing.
5. Trust Your Gut: After you have considered the location, vibe, amenities, safety, and comparables in the area you need to listen to your gut. I always say that once you have done the homework and you’ve walked through 10 similar places in one area you are now equipped to make a call about what and where you should buy.
If you have any questions you can email me at email@example.com and we are always here to answer questions or take you out looking for a house!