Saving money for a down payment on a home is no easy feat, which is why I started looking into various ways to make sure that I had things sorted out like I should. I began working with a real estate agent to chat about what to do and how to start saving, and they explained how much I needed if I wanted to avoid private mortgage insurance, and when the market typically trended upwards. It was really neat for me to see everything I could do with the advice, and saving became easier after I had a clear goal. Find out more about real estate by reading this blog.
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Should You Buy A Home Against A Park?
Cathy Frazier
You're looking at a home you love, but you've noticed that it is located next to or adjacent to a public park. Is this a good thing? A bad thing? How does the park impact the property value and the livability of the home? As it turns out, the answers to all of these questions really depend on the park and how it is used. Here are a few factors to consider as you decide whether this is the right home for you — and just how much you should offer for it.
How well maintained is the park?
A nicely manicured park can be an asset, whereas one that town has not been mowed in 6 months can be an eyesore. Take a good look around the park. Note any garbage, whether the equipment has been painted recently, and whether you see any maintenance workers around. If it looks like the park is declining, you may want to re-think purchasing the home — or at least make a lower offer, since an ugly park next door may drive down your property value when you go to resell.
Is the park safe at night?
One concern people have about parks is that they can harbor less-than-reputable people after dark. If people are dealing drugs or causing mischief in the park, you don't really want to live next door to that activity. Try to visit the house after dark and observe what is or is not going on in the park. If the park is empty, that's a good sign. If there are signs on the park that say it is closed after dusk, and a gate that is shut as the sun goes down, that's another good sign.
Does the home have a security system?
Even if the park does seem generally nice and safe, it's best that a home near the park has a security system. A lot more people see your home when you live by a park. You would not want someone to catch a glimpse of what is inside and then come back to burglarize you later. If the home does not have a security system, make a low offer, and explain to the owners that you want to save money to have such a system installed when you move in.
Living near a nicely-cared-for park can be enjoyable; you'll have space to play and spend time outdoors. But if the park is run down or seems to attract shady people, you should probably walk away from this one. Contact a real estate agent to help you find a home next to a safe and well-kept park.
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