Before you put in an offer on a new home, there are a handful of red flags you’ll want to look for with your realtor. Bad neighborhoods aren’t always easy to spot, so do a bit of digging first. If you see any of these red flags, you should stop and ask some questions.
Home Buying Red Flags
Too Many Houses on the Market: Now, I’m not saying that there is anything wrong with a few listed houses on the same street. However, if you see more than just a couple throughout the neighborhood, it might be wise to find out why so many homeowners are wanting to leave the neighborhood all at once.
An overwhelming number of houses that are up for sale in the same neighborhood at the same time could be a sign that the local market is on the downturn.
Empty Storefronts and Commercial Buildings: While you might not be interested in living in an area with a hopping night-life, you still want to be in an area that has a thriving and sustainable economy.
If you find the area has a high number of empty stores and commercial buildings, that is a sign that the area isn’t doing well financially. If the local homeowners can’t afford to go out and support the local businesses, then odds are they aren’t able to handle the upkeep of their houses either.
Low School Enrollment Numbers: Even if you don’t have a school age child, this is a statistic you’ll want to look at because it’s an indicator about the type of neighborhood you’re moving into.
School districts with a healthy enrollment, like those in DeSoto County, will have a steady enrollment rate and not a declining one. Declining numbers mean families aren’t buying in the area, which could make it hard for you to sell your home later or bring down the market value of the home you looking to purchase in the area.
No Parking….Anywhere: If you’re looking at a home with a one-car garage or garage-port, you’ll need to ensure there is still a place for your spouse or friends and family to park when they come over.
If the street has a high traffic volume, parking on the street could be a chore. Not to mention, it potentially puts the parked car in harm’s way. Make sure there are plenty of safe areas close to your house for parking.
Get Home Buying Help
If you’re ready to begin the search for a new home, contact me today. I’ll guide you through the entire process and will make sure you’re home choice doesn’t raise any red flags.