Hilo Home Buyer's Guide Tip of the Month Hawaii

Choosing Where to Buy

In buying your home there are three important factors: location, location, location. First, determine how far you are willing to commute. The best thing is to drive from areas you are considering at the exact times of day you would be commuting because traffic makes a big difference in how long your actual drive time will be.

Next make sure the neighborhood you are considering fits your life style.

Visit any areas you are considering at several different times of day. One of the best sources for information is the people who live there. You aren't just buying the physical structure of your new house; you're buying the neighborhood, too. Try to meet some neighbors and ask lots of questions.

Look at the surrounding properties for clues about your enjoyment of the area. A peaceful setting in the day may turn into a noise zone at night when the nearby race track heats up. If there is vacant land adjoining the home you are considering, find out how it is zoned. Most local planning departments have a 20 year plan you can review. Today's "privacy" can become tomorrow's shopping center. This will all help you figure out if you can be happy there on a long term basis. Getting out of a house you own is not as easy as switching apartments.

Check out the safety of your prospective locations. Most areas have a local newspaper which features a local crime section. Also you can call the area police station.

How much is prestige worth to you? Some neighborhoods command a higher price because the "right people" live there. If prestige is important to you, this can be a perfectly sound investment. If on the other hand, it is not, you can always get more house in a perfectly fine neighborhood that simply isn't as "in." However, understand approximately half a home's value is determined by the neighborhood. From an investment standpoint, you are wiser to select a lesser house in a better neighborhood than vice versa.

The final consideration regarding location is this: if you select a home on a busy street, backed up to an interstate or high tension power lines, or any other objectionable feature, make sure you pay under market for the house because when you sell it, it will sell for under market. And it may take longer to sell than other homes in the area that are better situated. That's not to say don't buy a home with an objectionable feature; it may not be a drawback to you, and it's actually a great way to stretch your housing dollar as long as you don't overpay.