Here’s how to find a neighborhood’s hot potential.
For some home buyers, selecting a diamond in the rough is not only a welcome challenge but marks the beginning of an up-and-coming neighborhood. Getting into a community before it becomes the next big thing is the key to stretching your dollar!
If you skipped by that village that had run down houses and high crime rates, you might be surprised to learn that a quick revitalization turns the whole area around. Spotting these future hot neighborhoods is a challenge, so we’ve compiled some signs of an up-and-coming area!
There are major renovations.
More businesses and individuals are more likely to invest in an area that has recently been renovated, whether the area was dodgy or not. Head to town meetings to find out when the next big projects are, and look for houses that are being remodeled. It’s a sign that homeowners are invested in their own community, and property values will increase due to the renovations.
Trendy businesses are moving in.
When a hip business, organic food store, or even a cool coffee shop moves into the neighborhood, it’s a sign that the area is changing for the better. Small boutiques and specialty stores attract locals and tourists alike. When finding out if a neighborhood is about to happen, watch for businesses moving into the area.
The prices are rising.
If a standard cup of coffee in the area has increased in recent years, you can be sure that the reputation of the neighborhood is going up as well. The young people, artists, and musicians alike can improve an area’s reputation and, more often than not, cool restaurants and fun coffee shops often follow the target market.
When trying to move into the right neighborhood at the right time, the last thing you want to do is suffer through a complicated, drawn-out escrow process. Contact Eastland Escrows to get our dedicated team of escrow professionals behind you. We can help you with all your escrow needs.