Neighbourhood insights

Choosing the right neighbourhood can be the difference between a home you like and a home you love. Though deciding on where to settle down can be tricky, you’ll thank yourself later for taking the time to find the right neighbourhood. The more informed you are about your new neighbourhood, the better. So, let’s go over seven key factors you’ll want to consider before closing on your next home.

1. Location

While being mindful of your home’s location may seem obvious, it’s easy to overlook if you have other priorities. Before you begin house-hunting though, think about how far and how much time you are willing to commute and limit your search to neighbourhoods within that radius. If you’re planning on walking, biking, or using public transit, a home that’s closer to work or close to public transport may be preferable. However, if you plan to drive, living farther from work may not be a problem. Also, if you have children or are planning on starting a family, you may also want to take into account your potential home’s proximity to quality schools.

2. Environment

You can learn a lot about your potential neighbourhood online, but visiting it in person and observing its ambience will give you the full picture. For example, a bustling neighbourhood with lively late-night bars and restaurants could be right for you, if you’re looking for a place with more excitement. If you’re sensitive to noise, on the other hand, avoid busier areas with heavy traffic, such as neighbourhoods located near highways or in the heart of your city’s downtown area. If you gravitate more towards quiet, green spaces, a property in the suburbs, countryside, or close to your city’s waterfront may be right for you. You may also find it helpful to visit the neighbourhood at various times of the day, like rush hour, late at night, or on a Sunday, to get a better idea of what it’s like to live there at different times in the day or week.

3. Growth potential

Your home is also an investment, and so is your neighbourhood. By finding a neighbourhood in the growth sweet spot, you may be able to close on your home at a lower price and benefit from the price appreciation as the neighbourhood becomes more established. Consider looking for neighbourhoods that are close to other thriving, developed neighbourhoods, or neighbourhoods with many young people and new businesses. You can also keep an eye out for areas undergoing significant renovation and construction, as this is another sign that a neighbourhood is growing or that property values could rise in the future. To find areas where there are new developments planned, you can also check out local development groups. For instance, buying in a neighbourhood where the city plans to build a transit hub or community centre means you’ll benefit from these new features, without paying a higher home price.

4. Affordability

Living in an in-demand neighbourhood can be exciting, but it's equally important to think about your potential neighbourhood’s affordability. Rather than going with an out-of-budget home in a high demand area, consider averting your focus to homes in an up-and-coming neighbourhood. Up-and-coming neighbourhoods are often more affordable than in-demand neighbourhoods, which can make it easier to find a home you love that’s within your budget. Also, be mindful of things like access to nearby transportation, or other neighbourhood features that could help cut down costs. If you’re planning on purchasing a property in a homeowners association, you’ll likely need to pay monthly fees, which usually vary from neighbourhood to neighbourhood, depending on what features the neighbourhood has to offer.

5. Nearby amenities

Amenities are the nonessential features of your building or neighbourhood that make living there more enjoyable, like an on-site gym or nearby grocery stores, pharmacies, and restaurants. Be sure to determine what features matter most to you and narrow your search down to places that suit you. Even taking a drive or walk around the area (or checking out Google Maps or Walkscore) can help you scope out nearby amenities and decide whether they work for you.

If you’re looking for a place where you can take your dog for a walk each morning, you may enjoy living in a residential area with sidewalks, parks, and walking trails. Or, you may prefer an apartment complex with a designated dog park area. Ultimately, finding a place with amenities that you’ll use on a regular basis could make your home purchase even more worthwhile.

6. Safety

Getting the details on all aspects of your potential neighbourhood—like how safe it generally is—will give you more peace of mind as you decide on the right home for you. A great way to find out more about the neighbourhood is to ask the people who already live there, as well as to do some research yourself. How do current residents feel about the neighbourhood? Is there a neighbourhood watch established in the area? Local police will often publish crime and safety reports for different areas of the city, so be sure to do some sleuthing to see if there’s one for the neighbourhood you’re considering.

7. Sense of community

Every neighbourhood is a community, and coming home every day to one that’s friendly and welcoming can really impact how satisfied you feel. On a practical level, neighbourhood crime is less likely to happen in a close-knit community where neighbours look out for each other. Plus, your neighbours can keep an eye out on your property when you aren’t around, and come to the rescue in case of an emergency. Living in a friendly neighbourhood (or having family and friends around) can even be useful for the day-to-day moments where you just need someone to watch your kids for a few minutes. Many neighbourhoods have committees with get-togethers and seasonal events, where you can get to know your neighbours and build community. So, keep an eye out for neighbourhoods and condo or apartment communities that feel positive and welcoming. One great way to get valuable insight into your potential neighbourhood’s community spirit is to check for community Facebook groups or use websites like Nextdoor, where you can connect to the people, businesses, and events happening near your home.

Where to find your new neighbourhood

Searching for the perfect home and neighbourhood? Having the right resources at your disposal could help you refine your house-hunting strategy and find the right place faster and more easily. With Zolo, you can browse local listings and filter your search to homes within your price range, preferred neighbourhood, and more. And if you’re not sure where to start your search or which neighbourhoods may be right for you, Zolo allows you to check out the fastest-selling neighbourhoods in your city and see the average selling price in each of your city’s neighbourhoods. Check out Zolo today to find your new home.

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