Move on It: Finding a Hot Neighborhood
Trying
to get in on an up-and-coming neighborhood before it gets big? The signs are
clear—all you have to do is keep your eyes open for some of these big changes.
Catch a ride
Improvements in
transportation—mostly in public transit—are a marker of an uptick in residents.
As a neighborhood grows, so too does the need for increased mobility for its
inhabitants.
Setting up shop
Large
corporations won’t simply open a store just anywhere. Retail and wholesale
giants like Walmart are a good indicator that there is about to be a population
surge, or at least that a town is not going downhill anytime soon.
Back to work
People will
always gravitate to where there are jobs. A healthy employment rate can also be
a good sign that, even if the population isn’t booming yet, there should be
plenty of people moving in soon.
An eclectic menu
A trendy
restaurant has a knack for bringing in not only locals but also out-of-towners
who will spread the word. Pretty soon, other hip businesses open up and, before
you know it, the town is full of cultural attractions.
The cost of being
cool
Generally
speaking, as a neighborhood becomes more in demand, the cost of living will
increase. Rising rent, increasing home prices, and price hikes in surrounding
stores are a gauge that an area is on the rise.
In the know
Before doing the
work yourself, talk to a local real estate agent who’s knowledgeable about the
area. This can help you understand the rise and fall of the market as a whole,
helping you move into your dream area before it gets too expensive.
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