Tips for choosing the right neighborhood in a new city

Most of us have dreamt of moving to a new city, starting life afresh, traveling, and making new friends. And with the opportunities these days, these may come true to many of us. Residing in a metro city is an exciting yet challenging environment. People living in well-developed cities can get addicted to the fun and frolic that relocating to a smaller town or another city can be an uphill task. As exciting as the relocation may sound (for a few people), choosing the right locality is not an easy decision to make. Whether you are looking for houses to rent or own, noise, cramped streets with little or no parking spots, chaos, etc., may not be an ideal place to live in for most of us while for some, this may seem to be a dream come true!

moving to a new city
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Living at the center of the city, close to all the stores, coffee shops, and work are some of the factors that we consider while looking out for a new place. But, unfortunately, this isn’t always the most viable option. Here are a few tips for you to consider before moving to a new city.

Housing type

You must first decide whether you are renting a flat or an independent house. Living in an apartment has its pros and cons and likewise with the independent house. If you are living with your parents and intend to move to another city alone, renting out a flat is a better option to look at considering the security and the amenities the apartments provide in general.

Housing Prices

Regardless of how much money one makes, it is ideal to not spend more than 30% of your monthly income on housing. Be it EMIs or rent. Supply and demand are equally high in the real estate industry. It is for this very reason; the white-collared societies are moving nearby their workplace. The neighborhoods are much affordable than the ones located at the center of the city. Sometimes, they may even get a larger flat in such neighborhoods than that at the city centers which would generally be more congested and chaotic.

Real estate value

Since buying a home is the single largest investment you would probably ever make, considering this factor on a serious note. With the real estate industry prices at constant flux, delving into the statistics is a must. Current home prices, resale values, long term value estimates are some of the things you can look upon.

Review local pricing carefully before taking a final call. Is the area fully developed or developing yet? Are there basic amenities nearby approximately at a kilometer’s distance? How is the resale value? What is the current land price at the locality compared to other localities? Is it in a locality where you might want to invest in real estate for a passive income?

Good neighbourhoods
The stunning Manhattan, New York

Availability of basic amenities

Basic amenities such as healthcare, schools, supermarkets are a big feature to look out for, on the outlook for a new house. Healthcare facilities are important at any stage in life and are especially relevant if you are moving with your family ( kids and aged members of the family). Easy access to healthcare can increase your quality of life exponentially.

So be on the outlook for cities or towns that offer good healthcare and education facilities.

Proximity to Family and Friends

Living in a new city, your extended family and friends are imperative to you. In such a case, choose a place that is within a driving vicinity or is at least accessible via public transport. Else, you would constantly feel torn between them and spend all of your time and energy on just commuting to their places back and forth.

Culture

If you are someone who craves constant stimulation, then moving to a locality that offers the same is a genius move. You can take into account some of the following activities, concerts, pubs and diners, sports teams, plays, treks, scenic routes to drive, and so on.

Commute time and public transport facilities

There are two main aspects to this. Either choose a locality which has good and easy access to public transport such as trains and buses or a locality to which the office transport commutes. For instance, if you work for an IT firm in ITPL in Bangalore, residing in the east of Bangalore is more sensible considering the traffic, money, and time. Staying in the south of Bangalore and commuting to ITPL would be a nightmare and takes up all of your time and energy.

Public transport
Public Transport somewhere in Europe…

The reality of choosing the right place to live encompasses an incredibly large series of factors to choose upon. To be successful in your search, do your homework and be vigilant in your search until you find the right place to live. Do not be in a hurry to take such massive decisions. It can be frustrating and intimidating at times, but all that effort is worth the wait when you find the right place. With the current pandemic situation in mind, ensure you have a virtual look at the place and the locality rather than visiting the place in person. Ensure you take appropriate safety measures in case you have to visit the house in person.

Happy hunting!

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