Signs That A Neighborhood Will Be The Next Hotspot

Dated: 08/01/2014

Views: 895

Are you thinking of buying a new house and want to live in an up and coming neighborhood? Here are some ways to tell if the area you are looking in is going to be the next “hotspot”:

•    If you live in a densely populated metro area demand for homes keeps growing with the population. Downtrodden neighborhoods with convenient proximity to employment, public transportation, freeways and bridges are prime for whole-neighborhood remodeling.
•    Trendy businesses start moving into the area.  Large businesses do a lot of research before choosing a location; this is a great way to spot new growth areas.
•    Changes in the conditions of an area, a major employer is moving into the area and a dramatic decrease in crime can make the conditions perfect for a neighborhood transformation.
•    In major metro areas, many first-time home buyers are choosing to live in an up-and-coming commercial area where abandoned warehouses are becoming chic lofts and condos.
•    Look for major economic development along with development of infrastructure. This can overhaul a neighborhood’s fate very quickly.
•    An area that has long been known for run-down homes has a number of homes being renovated and rehabbed.  This is a sure signal that the area is making a transformation.
Most of these changes are subtle, but if you are looking for this type of a neighborhood and keep your eyes and ears open, you will find exactly the right place for your next home.
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Sam Lepore

Sam Lepore is a Realtor with Keller Williams in Moorestown, NJ. Call him today at 856.297.6827 ....

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