Advice for Nervous Nelson

Nervous Nelson wrote:

Any advice --a checklist perhaps-- for due diligence on pending neighborhood or municipal changes potentially affecting a property's worth? ... Is there any good way to check for these kinds of things?

This brings up a great topic. We have touched on it before, but there is no harm in going there again.

As a buyer’s agent, I spend a silly amount of time reading the community newspapers and keeping my ear to local forums. As Charles pointed out, there is no simple way to know a neighborhood without following it over time (about two years.)

In urban areas, some changes send greater shock waves because everyone is closer together. For example, an abandoned home could cause more trouble if it is close to many homes – squatters or partiers will disturb more people; fire will threaten more. As well, problem neighbors are closer and thus more annoying. Same with barky or vicious dogs.

In suburban areas, neighbors are farther away, so you have more buffering for some of the problems above. An abandoned house, problem neighbors or their dogs will still hurt a home for sale. The better the general upkeep is, the more a run-down place sticks out.

In spread-out areas, infrastructure becomes important. If there is one bridge from the house to town, is that bridge due for repair? Does it wash-out or flood every year? How is the power grid set up? Is there back-up?

Some things affect any community, to name a few:

School closings or new school openings
Significant changes in school administration and other municipal players
Changes in mass transit options, new or decommissioned
Zoning changes
Redesigning of squares or town centers
Major traffic modifications
Significant changes in the tax base, increases or decreases business; if business pays taxes, residents need to carry less of the tax burden
Local efforts to modify the water patterns (to remediate street flooding)
Flood plains in town
EPA-designated sites in town (pollution)
Problems with municipal service providers – impending strikes of firefighters, police or teachers
Changes in refuse removal rules. Does the town pick up for free, charge "pay as you throw," or do you take your own to the dump?

Most of this information is available either through the community newspapers or on the town website, or by taking a trip to the municipal offices to talk to inspectional services, zoning, and/or community development officers.

What would you tell Nelson? What do you wish you knew about your neighborhood before you bought?

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