When you’re searching for a new home, you ideally want to buy in a neighborhood that has all the features you want in a community. However, highly-desirable neighborhoods are, understandably, in demand — and the prices often reflect that reality.
An alternative is to look for homes in areas that may be less-than-ideal now but may blossom into wonderful communities in a few years.
These “soon-to-be” desirable neighborhoods represent a great opportunity because you can often buy for less than you would ordinarily pay in an in-demand community.
How do you find such neighborhoods?
Here are a few signs to look for:
• New neighborhood amenities planned or under construction. For example, a local park and green space being built nearby.
• Crimes statistics showing that the area is becoming safer.
• People taking better care of their properties and investing in upgrades.
• Improvements in traffic and transit that are making the area less congested and/or more commuter-friendly.
These are just a few of many indications that a neighborhood is up and coming. So, when buying a home, pay attention to these signs.