Inner City v. Suburbs
Inner City Or the Suburbs? Which One is Best For Your Custom Dream Home!
By Tyron Mcdaniel
We have all heard how important location is when purchasing real estate! However what we haven’t heard is how do we accurately determine which location is better than another location. There are some distinct traits to consider when evaluating the potential location of your Custom Dream Home and whether it should be located in the suburbs or the inner city.
Before getting started you really want to consider what amenities outside of your home are important to you and the type of lifestyle your family lives. For instance, there are some people who love to be outdoors, walking their dogs, planting a garden or enjoying other outdoor activities like swimming and jogging. You could also be a person who loves the arts and wants to be within walking distance or a short commute to the museum district and art displays; for this person an inner city location will most likely fit the bill. You want to be very cognizant of these factors as you consider communities.
The first consideration to consider when choosing a homesite is its proximity to your place of business and/or office. With ever-increasing fuel costs, it is a wise and prudent decision to purchase a homesite that is either close to your place of business or near a Park n Ride carpool site. One of the largest driver’s of home price appreciation are a communities proximity to major employment centers, shopping and entertainment centers and parks. The closer you are to these types of venues the more likely it is that this is a great area for building your Custom Dream Home.
You also want to consider whether you want to live in the inner city or the suburbs. Both have distinct advantages and some disadvantages so it really depends on the type of lifestyle you enjoy. As stated earlier, for those who are art buffs you will most likely be drawn to inner city communities as they usually have more art displays and museums. Most suburban communities will offer all the other outdoors amenities like biking, jogging and trails of all sorts as well but most suburban communities don’t have art districts and museums although there is a new trend changing all of that. I live in Sugarland, Texas which has been voted as one of the best places in the nation to raise a family and because of the popularity of this area there is very little undeveloped land. In fact, the last large chunk of land suitable for development was purchased and developed into a Savannah, Georgia themed community called Telfair. Well Telfair has a very unique distinction in that they have their very own Museum of Natural Science satellite, which is a first for a residential community! So for the art lovers they can get all the benefits of suburban living AND have the arts too.
Probably one of the greatest benefits for families considering the suburbs over inner city communities are the abundance of high quality accredited schools. Most suburban areas have well funded, diverse school districts that excel in most academic tests and extra-curricular activities like band, orchestra and sports. In comparison to many inner city areas, most inner city areas have older schools that may be underfunded and or not exemplary when it comes to standardized testing. These are the primary considerations you want to take when considering communities from a homeowners vantage point, but let’s take a step back and look at this from the eye’s of a real estate developer.
When I am researching an area, I am generally looking for the area that 3-5 years from now will be the next best thing! For instance, when my wife and I purchased in Sugarland back in 1999 we felt that the strong demographics, exemplary school district, low tax rate and short commute to downtown Houston would over time make this the place to be! Well in 2005, 2006 and 2007 Sugarland was recognized by Newsweek and Money magazine among others as a great place to raise a family!
So you definitely want to closely consider areas with low tax rates and strong school districts. Over time these areas have proven to appreciate faster than other communities. Another good strategy for suburban communities is to follow the sprawl. In other words, you want to keep your eye out for subdivisions that are selling out faster than the developers expectations. Generally if you look in the surrounding areas you will find other developers who have come in and are capitalizing on the newfound success of the area and will be offering homesites and communities for sale at equally competitive prices.
Lastly and probably the important thing to do when considering an area is to get in your car and drive through the community and the area in general. In many cases, despite all the above exercises and strategies this is the best indicator of how suited a community is for your needs as you get to discuss the community with your potential neighbors and get all the juicy details of what’s going on and/or proposed to occur in the area.
If you invest some time in closely monitoring and considering the merits of suburban living versus inner city living, I can assure you it will be time well-spent and it will help you to clearly determine which one is best for you and your family!
Tyron C. McDaniel, author of the exclusive “How to Build Your Custom Dream Home for Less!” Owner Builder system has been in real estate since 1999. As a Construction Loan Expert, Real Estate Agent & Real Estate Developer Tyron has helped a number of clients save thousands of dollars and realize HUGE equity gains when designing and constructing their Dream Home. Tyron’s expertise in Custom Dream Home Financing and Design consultation is in high demand with clients from all around the country. For a very limited time, Tyron is offering his “Owner-Builder Custom Dream Home Planning Guide” (A $39.95 value) for FREE (For a limited time only), so hurry over to http://MyDreamHomeforLess.com
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