4. Search for a Home

Big Choices That Will Make a Big Difference

The decisions you make in the home-buying process will determine the neighborhood and home where you will live-and the financial terms by which you will pay for your home. But with so many neighborhoods and all the homes on the market in each one, narrowing your choices can be a harrowing task, especially if you’re not familiar with the area. Your buyer’s representative can be invaluable, helping you find resources to learn what you need to know to make informed decisions.

Note: Under Federal Fair Housing Laws it is unlawful for a real estate professional to engage in conduct that is discriminatory on the basis of race, religion, color, national origin, ex, handicap, or familial status. A real estate professional should never steer you towards or away from a particular neighborhood if the homes there fit your needs and are within your range of affordability.

Factors to Consider When Evaluating a Neighborhood

Spending time in a neighborhood can tell you a lot about it, but not everything; you also need to do some research. Depending on your particular needs and preferences, some factors will be more important than others, but things to consider include:

Neighborhood Profile: Research neighborhood aspects such as population density and the level of commercial development. Ask yourself “What kind of neighborhood do I want to live in?  What is important to me NOW as well as in the FUTURE?”

Household Data: Take into account family type, average household income, and homeowner education level and occupation.

Crime Rate: Crime is an unfortunate reality we must all deal with. Probably no neighborhood is totally immune from the risk of crime, but by researching the incidence of reported crime in the neighborhoods you are considering, you can make an educated decision about where you live.

Quality of Schools: Base your evaluation on school performance, as determined by average test scores, spending per student, and the percentage of college-bound students and national merit scholars.

Amenities: What features you want in a neighborhood will be determined by the lifestyle you lead. Amenities to consider include proximity to: schools, place of employment, shopping, transportation, parks and recreation, restaurants and nightlife, cultural institutions, and natural resources, such as state parks.

Chicago Real Estate Chicago home partner amanda mcmillanClick on the Chicago Home Partner icon to the left to meet Amanda and her team of highly quaified professionals who are happy to assist you in your home buying journey.