There’s more to consider when buying a house than the house itself: the neighborhood that house is in can be equally, if not more, important. You might already have must-haves in mind for the type of property you’ll buy — at least two bathrooms to stay sane, for example. Now you need to focus on finding the best neighborhood that fits your budget.

If you already have a neighborhood in mind, take some time to look at the bordering neighborhoods as well. You might find more affordable options that have the same benefits. As home prices increase within desirable areas, generally speaking, locations on the periphery become in demand as well. Pick your neighborhood of interest and note the listing and sales prices. Then pick a bordering neighborhood that costs less to buy into. Compare amenities in using the walkscore function on my real estate search, and you can see where the restaurants, grocery stores, nightclubs, cafes, stores, arts and entertainment areas, spas, and active-life spaces are located. Don’t rule out up-and-coming neighborhoods. Yes, you’re taking a risk here. But that’s a risk you can minimize! Look for warning signs. Distressed areas generally are identified by low sales volumes, elevated value decreases, and poor access to amenities.

If you just cannot afford a single-family house in the neighborhood of your choice, look at other options. Condos and townhouses are often less expensive than single-family homes. But wait, there’s more! The advantage of a condo or townhouse is the reduction in exterior maintenance, which is typically taken care of by the property management, which all together mean you might be able to afford more within your budget.

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