Whether buyers are seeking a single-family residence, vacation home or property for an international real estate investment, location can be a game changer. Many buyers will overlook transitional properties in favor of an exclusive community or neighborhood on the upswing. Ultimately, a good neighborhood makes living in the home more enjoyable and also helps its resale value.
Here are three things that many buyers look for when evaluating a neighborhood.
1. A Kempt Neighborhood. This is easy to spot—the homes in a desirable area tend to have impeccably maintained yards in the form of well-manicured lawns, trimmed bushes and nice flowerbeds. There will be an absence of litter on the streets and other unsightly items such as broken fences.
2. Proximity to the good life. A home in a good location may be part of an exclusive gated community or country club, but it will be in close proximity to fine dining, chic shopping and recreational activities. It will also be close to other vital services, such as hospitals and medical services, entertainment facilities, grocery stores and safe outdoor parks. For those seeking property for an international real estate investment, being close to these type of services and amenities makes it easier to find tenants.
3. Safety. Safety is a very big concern for buyers, especially women living alone, couples with young children, or those looking to retire. It can be pretty easy to tell if a neighborhood is safe by the lack of graffiti and obvious vandalism, as well as well-lit roads and sidewalks. In safe neighborhoods you may see homes with high-end security systems, fenced in gardens and well-lit driveways. You can also research the local crime rates online to determine exactly how safe the neighborhood is. Some buyers want the ultimate in safe neighborhoods, which is often times a gated community with 24-hour security on-site.
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