Signs of an Improving Neighborhood

Buying a home in a neighborhood that is on the upswing can be a very good investment, both financially and in terms of lifestyle. As the area improves, the home values will likely increase. In addition, the people who live there will tend to enjoy their properties and surroundings, and continue to invest in them. So how do you determine if a neighborhood is improving? Here are a few signs to watch out for as you shop for a new home:

Home Improvements

Look for indications that home renovation or remodeling projects are being done in the neighborhood – contractor signs on the front lawns trades people's trucks parked in the driveways building supplies being delivered. When homeowners spend money to improve their homes, it shows that they are happy enough with the neighborhood to invest in it.

Landscaping

Notice how well the homeowners take care of their home exteriors. Are the shrubs pruned? Are the driveways swept? Are the lawns mowed and relatively weedless? Homeowners who keep their landscaping well maintained tend to also care about the surrounding area.

Real Estate Activity

Look for "Sold" signs on the lawn. This may mean that the neighborhood is in demand. By contrast, lots of "For Sale" signs could be an indication that people are trying to move out of the area.

Commercial Investment

When there are a lot of nearby shops and restaurants under development, there is a strong indication that business owners have faith in the area. If, however, you see a lot of "For Lease" signs on empty stores and buildings, this may mean that these businesses have moved onto greener pastures. All the above signs are, of course, just indicators. You should research the neighborhood thoroughly to understand what it may be like in five to ten years.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.