Hunting for real estate in Green Bay WI and N.E. Wisconsin involves a little more than simply searching for a good house or condo. On their search, people often forget that they also need to love the neighborhood just as much as their new property! Finding an area you love is no small task — especially if you’re moving to a new town or city you’re unfamiliar with. Before you start attending showings, do some research on a few neighborhoods. Here are a few things you should look out for when deciding whether or not a neighborhood is right for you and your family.
Average Property Costs
Looking for evidence for whether a neighborhood is on the up and up? Work with your realtor to check the average home value for the neighborhood. If home values have only been climbing over the years, it’s a safe bet that the neighborhood is one worth living in. Of course, values don’t always mean that a neighborhood is a good one — prices are rising across the country. What you’ll need to figure out is the growth rate. Currently, the average single-family home sells for $248,000; a 4.1% change from last year. If homes in your prospective neighborhood have increased by this rate or faster over last year, they’re likely highly coveted.
Increasing Household Income
Another key indicator for a great neighborhood is a healthy average household income. When your neighbors make more money, they are more easily able to afford the cost for major renovations and landscaping, which can increase overall curb appeal and boost home prices overall. While you could walk around and ask your potential new neighbors what they make, there’s a much easier — and less invasive— way to find the information you need. Simply head online and get the neighborhood census data! You can find census data and use it to find the median income.
Moving with little ones? If you want the best for your children, you’re going to need to determine whether the schools in your prospective neighborhood are worth the move. Visit the local elementary and highschools if you can, and head online to hear reviews from parents and alumni. Even if you don’t have children, being near a good school can have a positive impact on your resale value. So kid or not, a good school is still worth looking for.
When looking for homes for sale in Green Bay, WI, you need to consider the type of community you’d be buying yourself into. What are the neighbors like? Is the area a young one, or a quieter, older one? If you care about your day-to-day interactions, you’ll want to walk around and connect with a few of the people in the area. Knock on your would-be neighbors’ doors or ask around at the local cafe or park about the social characteristics of the community. Are there community events? Parades? Farmer’s markets? Block parties? Are there any clubs or weekend community events?
Homes vs. Rentals
When looking for real estate in Green Bay and N.E. Wisconsin, this is often something people forget to consider. Across the country, the average ratio of homeowners to renters is 2:1. If you’re looking to purchase a home, you’ll want to find an area where there are more owner-occupied properties. Though you might not think there’s a difference, homeowners are more invested in their curb appeal and the appearance of their houses. Renters don’t need to care — they don’t own the property. When you live among other homeowners, the chances are better that they’ll trim the grass, keep their fences nicely painted, and keep the average resale value up. Ideally, you’ll want to look for neighborhoods in which less than 25% of properties are rented.
A Strong Job Market
Did you know that a neighborhood’s local job market directly affects market prices? When you’re doing research on areas to shop in, make sure you choose places with low rates of unemployment. In fact, work with your realtor to find neighborhoods with positive job growth. Are there any major companies coming to build headquarters or factories? This won’t always be the case, but it’s worth looking into!
If you’re looking for homes in the suburbs, you likely have a car. But if you’re moving into a more metropolitan area, walkability is extremely important. Make sure you have everything you need within a short walk of your property. When doing neighborhood research, walk around and check to see whether there are grocery stores, restaurants, shops, and pharmacies. Is there public transportation close by? If none of these are close, you’ll have a difficult time getting groceries or making it to work on time.
Most importantly, you’ll want to check and make sure that the neighborhood your realtors in Green Bay WI are showing you is safe. There are plenty of ways to do this; the first is to check with residents. Of course, there are also websites available, which list all the crime reports for the area of your choosing. If you want to be thorough, you can always talk to local law enforcement for a professional opinion.
With all of these considerations in mind, you’ll be able to find a great neighborhood that you’ll want to call home for decades. Ready to start looking? Talk to your realtors in Green Bay WI and N.E. Wisconsin today.