Saturday, August 3, 2013

How to choose the right neighbourhood



First-time homebuyers typically take the time to research what type of neighbourhood is appropriate for their specific personal needs before they buy. There are many different types of neighbourhoods, such as Transit-Oriented Design, Up-and-Coming, Multi-Generational Housing, Urban Core, and so on. Each neighbourhood has its own advantages and disadvantages and certain families may choose one over another. What neighbourhood your dream home is located in should be a large deciding factor in choosing where you want to live. Here is a basic breakdown of some of the most well-known neighbourhood areas:

Transit-Oriented Design: These neighborhoods are specifically built with public transportation in mind, they surround high traffic businesses with cost-efficient apartments, condos and townhouses. They are usually convenient but not very spacious, and mainly consist of a younger, single crowd possessing a lower income.

Up-and-Coming: Located near downtown areas but expanding towards the suburbs, they are mostly larger family homes. They are cheaply priced due to their close proximity to a lot of construction areas. Usually plays host to a diverse population, less crime and situated a little further away from public transit.

Multi-Generational Housing: Will accommodate all walks of life by combining several generations into one community. New developments attempt to cater to many family oriented homeowners at the same time.

Urban Core: The downtown heart of the city, usually featuring a diverse population and many apartment and loft-style homes. Boasts plenty of access to public transportation, paid parking and, alas, higher crime rates.

Historic: This area is surrounded by the city's most notable government-owned buildings and business complexes, featuring large Victorian and colonial-style homes. Owners are an older crowd, and these homes tend to take more effort to maintain (although their appeal is still very high).

Contemporary Urban: These types of neighbourhoods are typically for the educated, professional and younger crowd, with taller high-rise living areas usually located near downtown business areas. Possesses a great nightlife district for the dating crowd.

High End: Upper class, expensive, elegant, contemporary homes in gated communities or situated next to large bodies of water. Also located high on mountaintops, sprawling hills or any other difficult-to-reach places, they are often private, quiet, status symbols.

Rural: These are the furthest away from the city, usually near to farms, ranches and large custom-built homes boasting acres of land. If you love nature and solitude, this is the ideal choice for you.

Based on the article by Reed A Lattin

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