How do I determine whether a neighborhood is right for me?

One great way to experience a neighborhood before buying is by driving through it at different times of the day. If you’re looking for evidence of other young families, for instance, drive around either after school or on weekends, when children are most likely to be out playing. If you’re concerned about noise from a nearby intersection or other neighbors, cruise through late at night, watching and listening for any signs of disturbance that might end up being a nuisance.
You can use a similar drill for condos, town homes, co-ops, and other types of detached housing, with one advantage: Because the units are usually close together—and sometimes joined by a common area—you can more easily talk to a few current owners. When doing so, don’t be afraid to ask how satisfied they are with their own home choice. Tell them that you’re thinking about buying a home in the development and ask them some or all of the following questions to get a feel for the development. If any of the answers or comments send up red flags, dig a little deeper (perhaps with another owner) to find out if the complaints are valid and worth noting:

❑ How do you like living here?
❑ Have you run into any major problems or issues in the development or surrounding community?
❑ Do the residents tend to be loud, quiet, or in between?
❑ Are there children living in the development?
❑ Does the area have any major issues with crime?
❑ Is the condo management firm or homeowners association receptive to its residents who have problems or issues?
❑ Would you recommend this development to one of your friends or family?

When shopping for a home you’ll also want to look at the positioning of the home. If you have small children, for example, then a cul-de-sac would be a perfect choice, even if the homes on that particular part of the street don’t fit your perfect home profile. Think about it: Would you rather have a fireplace or peace of mind knowing that your child is riding a bike on a street where few cars drive through? Also, if you have a large extended family that owns more than two cars, you might want to avoid a corner lot with a small driveway, since parking those cars on the grass is probably not an option.
Last but not least, talk to someone or do a bit of research on the neighborhood and surrounding community. Find out if it’s a part of the city or an unincorporated area of the county (the latter usually means lower property taxes and fewer regulations, but also fewer city services). Ask about future infrastructure projects (you don’t want to find out a month after closing that a fifty-foot-high cell phone tower is being constructed ten feet from your property line), and any such projects that your condo or homeowners association might be ready to hand out hefty assessments for, like a $5,000 per-unit assessment for new roofs. All of these issues should be factored into your choice of location and used to help make the best decision.
When choosing a location, also remember that not everyone can afford the perfect home in the perfect neighborhood, but that compromising on both ends just might find you living in a nice home in a good neighborhood. In the long run, most buyers find it better to live in a less-than-ideal home in the right location, rather than the other way around.