Finding the right neighbourhood is an important step in buying a home. In fact, it is almost as important as what home you choose. Your neighbourhood should provide key amenities, be safe, affordable, and have people who are like-minded to yourself. In addition to this, if you have children, you will likely be looking at what schools and parks are in the area (if any), and the demographic. Those who have plans to buy luxury property for sale in Ontario, should keep in mind how the neighbourhood will impact their investment. To help you find the right neighbourhood for your needs, we’ve compiled a list of qualities to consider when searching for a home in a new location. Follow along below to learn more!
Buying Luxury Property for Sale in Ontario: How to Find the Right Neighbourhood?
- Look at Crime Rate/Contact the Local Police
The first thing that you should do when looking for a home in a new location, is check the crime rate in that area. You can do so by looking up crime rate statistics for a given neighbourhood and/or visiting online forums to get a local perspective on the matter. Another way to determine crime rates and safety is by contacting the local police department. The police will be able to provide you with information about crime prevention, community policing and what areas are safe.
- Visit the Area at Different Times
Before you buy a home in a new neighbourhood, it is a good idea to visit the area at different times of the day. Be sure to keep a record of the highs and lows, the condition of people’s homes and how people’s front yards look. You should also pay mind to the people in the area—are they young? Old? Mostly single? If you notice high fences, bars on ground floor windows, or abandoned buildings, this can sometimes be an indication of an unsafe neighbourhood.
- Test the Commute
Most homeowners find that they love their home all that much more when it is in a great location. The last thing you want is to have to drive hours to get to work or even the grocery store. Plus, convenience can be a big factor that drives up your ROI when it comes time to sell your home. Be sure to determine how long of a commute it is from your home to basic amenities and key locations (like the airport or downtown).
More Tips for Finding a Good Neighbourhood!
- Current Neighbourhood Housing Value
A good way to gauge the kind of neighbourhood you’re buying in, is to check out the current housing value in the area. Ask your agent or knock on some doors to get information about the average property values. If you can, ask about how the price has changed in the last 5-10 years. This will give you a good idea of whether homes are appreciating or depreciating in that particular neighbourhood.
- Future Developments
Future developments can make a big impact on a neighbourhood. Depending on what the development is, this can either be good or bad. For example, new schools, recreation centres, sports, fields, and grocery stores can all have positive impacts on a neighbourhood. However, things like factories, commercial buildings, and landfills, can have a negative impact. You can check future developments in a particular area by looking at city zoning, contacting city officials and/or talking with your real estate agent.
- Amenities & Schools
Another thing you’ll want to think about when choosing your neighbourhood is the local amenities. How close are you to everyday essentials like grocery stores, pharmacies, convenience stores and restaurants? If there is lots of nightlife in the area, how will this impact noise/traffic during the evenings or on weekends? In addition to this, if you have kids, you will want to take a look at the schools in the area and what their reputation is. As well as, parks and green spaces.
Contact us Today!
Buying a home in a new neighbourhood is a big deal. It is important that you take the time to find a property that is in a good location for you and your family. If you have any additional questions about buying luxury property for sale in Ontario, contact us today. For more information on buying and selling in the area, reach out to one of our trusted team members. Be sure to check out our Instagram page here for the latest updates and more. We’d be happy to help you find an awesome high-end property in Ontario. Feel free to reach out to us at any time, we look forward to working with you soon!