Boston Property Management: Finding Hot Neighborhoods
Everyone wants to live in a hot neighborhood which has a great value and will make you the envy of your friends. A home in a hot area is a good investment as it will appreciate with time and will give you more value for your money. The only problem is that it is easy identifying these hot neighborhoods as one is never sure where to go.
The best way to start is to look around for the highest reviewed shops on Yelp close to the neighborhood of your choice. An important point to remember is that those shops should not be part of any chain (Starbucks, etc). Once you can identify highly related shops no one has heard of, go over there and look at the houses in the area. If a neighborhood is supporting these artisan shops, then you know that this neighborhood is the right step for you.
If you notice a neighborhood with a strong architectural theme, then that means you are on the right track. It doesn’t matter if the condition isn’t so good as long as the architecture is of a fine quality. Just avoid homes which were built in the 70s or 80s as they all look the same.
Boston Property Management: Safety
If you have a dog, you can test the safety of a neighborhood by walking it there at night. Try it out on a weekend and see if you feel safe walking in your neighborhood. Another way to check the safety is to look at it on crimereports.com but it is no match for testing it out yourself.
Do your homework by shortlisting your favorite areas before you make your final decision. Another sign of a good neighborhood is when you find people who are willing to talk to you. They are a good source of information as well. Make sure you also keep an eye on the paper to see if there are any upcoming community upgrades and if the local government is financially viable. It makes no sense to move to a neighborhood which isn’t viable as there will be no funding for upgrades and projects.
Also check the ratio of active homes on the market as compared to those which can received an offer and are off the market. If the number of sold ones are more than the one on the market, then you know that this area is moving towards appreciation.
We hope you liked our guide “Boston Property Management: Finding Hot Neighborhoods”.