7 tips for choosing a neighborhood when you’re ready to buy a home
When buying a home, the neighborhood will affect your budget in more ways than one. It will also probably affect you overall quality of life.
When buying a home, finding the right neighborhood is arguably as important as finding the right home. And a good neighborhood depends on more than just friendly neighbors — you’ll want to look at various factors that will affect your living costs and your overall happiness.
Here are seven major factors that can help you narrow down your location search.
1. Budget
Before you start shopping for homes, figure out how much house you can afford. Consider how much you could put toward a down payment while still having money left in savings. Then think about how much you can reasonably pay each month toward your mortgage.
“The worst mistake, in my opinion, is working to keep your house,” Carolyn Morganbesser, Senior Manager of Mortgage Originations at Affinity Federal Credit Union, told Insider. “There’s no room for the movies or to go out to dinner, because your mortgage payment is higher than you anticipated.”
Once you’ve figured out your budget, you can start thinking about home locations.
