Finding An Affordabe Home in a Great Neighborhood In Connecticut
You have heard it a million times, "buy the worst home in the best neighborhood." While you do not necessarily want to buy a home straight out of a horror flim, finding an affordable home that might need some updating or repairs in a GREAT neighborhood is a great strategy in a tight real estate market. With some strategic planning, it is possible to find a great home that will accrue value over time becasue it's located in a great neighborhood.
The first step is to define what a "great neighborhood" means to you and your family. Of course, the basics such as low crime and great school are a good start but you also want to consider amenities that affect our quality of life and lifestyle. Do you want easy access to recreation facilities or trails for example? Once you identify the essential qualifications of a "great neighborhood" for you, then start doing your research.
Real estate and community websites are a great start. Social meida sites can also offer insight into the lifestyles of the communites you are considering. Review the prices of current listings and consult with your lender to determine a realistic budget. Then be open to compromises. What are the true "must have" aspects and what would you simply "like to have"? Be ready to pounce if a good home becomes available.
Be open and honest with your budget and goals. Working with a real estate agent, they may offer similar communities as well. These could be good starter locations that offer value accretion. Finally, be ready to make updates and repairs. Finding a diamond in the rough will take work and elbow grease but in the long run, you can find significant financial and personal reward from investing in the right neighborhood.