Questions to Ask About the Neighborhood

Questions to Ask About the Neighborhood

Where you live should reflect your lifestyle. These questions will help you find the best community for you.

Is it close to my favorite spots?

Make a list of activities you engage in and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities.

Is it safe?

Contact the police department to obtain neighborhood crime statistics. Consider not only the number of crimes but also the type and trend. (Is crime going up or down?). Pay attention to see where in the neighborhood the crime is happening.

Is it economically stable?

Check with your local economic development office to see if household income and property values in the neighborhood are stable or rising. What is the ratio of owner-occupied homes to rentals? Apartments don’t necessarily diminish value, but they indicate a more transient population. Are there vacant businesses or homes that have been on the market for months? Check news sources to find out if new development is planned.

Is it a good investment?

Ask a local REALTOR® about price appreciation in the neighborhood. Although past performance is no guarantee of future results, this information may give you a sense of how a home’s value might grow. A REALTOR ® also may be able to tell you about planned developments or other changes coming to the neighborhood — such as a new school or highway — that might affect its value.

Do I like what I see?

Once you’ve narrowed your focus to two or three neighborhoods, go and get a feel for what it might be like to live there. Take notes: Are homes tidy and well maintained? Are streets bustling or quiet? How does it feel? Pick a pleasant day if you can, and chat with people working or playing outside.

What’s the school district like?

This is especially important if you have children, but it also can affect resale value. The local school district can probably provide information on test scores, class size, the percentage of students who attend college, and special enrichment programs. If you have school-age children, visit schools in neighborhoods you’re considering.

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LUKE

 

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Have you considered a THDA Home Loan?

piggy bank

 

The Tennessee Housing Development Agency (THDA) is offering the Great Choice Home Loan Program offering affordable mortgage financing for middle/moderate income.  Every Great Choice Home Loan is a 30-year, fixed interest rate home loan.  Here is some basic information on the Great Choice Home Loan:

30 Year Term

Your monthly payments are spread out across 30 years to keep payments affordable.

Minimum Credit Score

To qualify for the Great Choice Home Loan, the credit score of everyone on the loan application must be at least 640.

Maximum household income

Your total household income must be below the annual income limit.  This limit varies by county and the number of people in your household.

Maximum purchase price

The maximum purchase price you can pay for the home and still qualify for the loan program also varies by county and is closely related to the income limits set for that county.

Down Payment Assistance

Everyone who qualifies for the Great Choice Home Loan Program also has the option for financial assistance with their down payment and/or closing costs.

 

For more information on the Great Choice Home Loan Program, you can contact me at 615-624-1436 or via email at Tiffany@mcrealtytn.com

Tiffany Orsino

NextHome Music City Realty

1804 Williamson Court #102

Brentwood, TN 37027

615-624-1436

Tiffany@mcrealtytn.com

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