What's the Future Vitality of the Area?
What's the future vitality of the Area?
When considering a property try not to focus on the past economic growth. This growth is very important, but also look into the future potential or downfalls of the property.
Will this city and neighborhood have the opportunities available in the future that will allow your investment in your home grow?
What type of transportation is available? Will the current growth be more than the near by freeways are prepared to handle?
What schools are now available. Are there plans to close down the schools, or build more?
Will this area continue to prosper to have the job opportunities necessary to support your mortgage?
What other structures, airport traffic, or freeways are planed in the area? How would this effect your property value like noise pollution or the bright hot pink hotel they will build across the street?
Will the local park be converted into a housing development in the future, or maintained without graffiti and garbage?
Do keep in mind it's impossible to predict the future, but by taking the time to ask the right questions, you will have the necessary information available to make the best decision for you and your family giving the current market. It does pay to leave as little to chance as you can.