The location of your new home will do just as much, if not more, for the future value of your investment as the house itself.  It also affects your everyday life.  Keep these things in mind when choosing your location.

Geography

There are many aspects to take into consideration when choosing your future location.  Geographically, look at factors such as climate, proximity to friends and family, and its potential for your future career opportunities.  Once you have an idea of your geographical location, decide whether you want to live in the city, suburbs, or in a rural area.  These will determine your lot size, commute, and general peace and quiet.

Neighborhoods

The neighborhood you choose to live in is the most precise aspect of choosing your location.  You want to find a neighborhood that offers the type of house you are looking for, and one that will fit your lifestyle and personality.  Research potential neighborhoods.  Find out if they look like places that you will enjoy long-term.  You can also find statistics on the homes in the neighborhood.  See if they are increasing or decreasing in value.  You want to invest in a property that will appreciate.

Consider things that are specific to your situation, and remember to keep in mind your future plans.  Do you want to live in a family-friendly neighborhood? See how busy the streets are or if there are other families in the area.  Visiting a potential neighborhood at different times of the day will also give you a better idea of what it is like.

School Districts

If you have or are planning on having kids, the local school districts may be a big part of your decision.  Living in a good school district likely determines your kid’s education and your experience as a parent.  If you have children who will be riding the school bus, you should also look into where the nearest stop is.  See if it is in a location that will work for your family.  Even if you don’t have kids, it is a good idea to pay attention to the local school districts.  Living in a good school district can really maximize your potential resale value in the future.

Another thing to pay attention to is if there are any universities nearby.  Homes near universities can have great resale value.  Universities also often have academic and sporting events for little or no money that the public can attend.  Just be sure to make sure that the house you are purchasing is far enough removed from the campus if you do not want to deal with college students in your neighborhood.  Otherwise, you may severely narrow your market for resale.

Lifestyle

When choosing your location, consider your lifestyle.  What is important to you? Each neighborhood will offer a different experience and it’s up to you to choose yours.  See what amenities each neighborhood has near it.  Consider its proximity to public transportation, libraries, and museums.  Find out which neighborhoods will benefit your lifestyle with proximity to leisure activities like parks, pools, sports facilities or walking trails.

Safety

You want to feel safe and secure wherever you live.  There any many resources available to help you find out the most about your future location.  Online you can find out local crime statistics and if there are any registered sex offenders in the area.   You can also research nearby police stations, fire stations, and hospitals.

If you are going to live in an area that is susceptible to flooding or fires, see if the home you are looking at is in a good position.  Should there be a heavy storm, will your home flood? If there is a fire, how far is the nearest fire hydrant? In case of emergency, are you near hospitals? Things like proximity to fire stations and fire hydrants and susceptibility to flooding may have a big impact on insurance costs and should be factored into your budget.

Helpful Links

• Ratings of Local Schools
• Boundaries of Local School Districts
• Find a List of Local Sex Offenders
• Interactive Map of Local Crime Reports
• List of Local Crime Reports
• Local Police Stations
• Local Fire Stations
• Airports Near You
• Interactive Map of Local Airports
• List of Major Powerlines
• Find Local Environmental Hazards
• Local Air Quality Map
• National and State Parks
• Trails and Walking Paths
• Local Pools
• Find Tennis Courts

If you have any questions or are curious to see what you could qualify to borrow, contact E5 Home Loans. Even if you already have a quote or prequalification, reach out to us for a Second Opinion. E5 Home Loans shops for the best products across many lenders and we don’t charge a bunch of crazy fees.

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