As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing
Signs That A Neighborhood Will 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.
Sam Lepore is a Realtor with Keller Williams in Moorestown, NJ. Call him today at 856.297.6827 ....