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Evaluating The Neighbourhood

Determine Your Likes and Dislikes

A neighbourhood is about people, its part of a city, and a smaller segment within a larger segment. Normally we describe a city by its appearance (building types, condition, street layouts and amenities), it is actually the people who live in the neighbourhood that actually determine and shape the nature and character of the area.

Ask Yourself These Questions

  1. Does this look like a neighbourhood you would like to live in?
  2. Is it near places you would go to?
  3. What is it like at night?
  4. Is it near the school your children will be going to?
  5. Is it on a bus route?
  6. Do they allow pets?
  7. Are the properties well maintained and the type you are interested in?
  8. Is the neighbourhood growing, recovering or declining?
  9. Are most of the residential homes owner occupied?
  10. Is this a mature neighbourhood?
  11. What is the age of the homes and if possible, who built them?

Identify the streets and landmarks for your REALTOR; keep track of what you are interested in.

Neighbourhoods have life cycles and stages.

Growth, Stability, Declining and Renewal – this affects value, all neighbourhoods go through these stages. If an area is in decline or transition prices might be softening relative to other similar areas.

REMEMBER A STEADY INCREASING VALUE GENERALLY MEANS A SOUND INVESTMENT. TRY TO BUY THE SMALLEST, LEAST EXPENSIVE HOME IN THE BEST NEIGHBOURHOOD!

Download Our Free Evaluating Your Neighbourhood Worksheet