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.
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