VICTORIA HUDGINS

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What's Your Neighborhood Vibe?

We all know that what makes a home perfect goes way beyond four walls and a roof. In fact, according to a survey from Ally Home, the majority of respondents believe a neighborhood's vibe is a critical component of calling somewhere home.

But picking a neighborhood involves more than pinpoints on a map or statistics such as median home price. It encompasses a look and feel, or vibe. According to survey results:

 

  • Almost nine in 10 Americans surveyed (88 percent) say the vibe of a neighborhood is important in deciding where to live, with half of those respondents (49 percent) saying it is very important.
  • Four in five U.S. adults (80 percent) say their neighborhood has to fit their personality. In fact, more than four in five (82 percent) say if they didn't like their neighborhood, they would consider moving.
  • Nearly three-quarters (73 percent) of respondents also said they would be willing to settle for a smaller house and/or pay a little more for a house in their perfect neighborhood.

But what is America’s preferred neighborhood? Is it still the classic tree-lined street with white-picket fences? Not necessarily, says the survey:

  • More than one-third of Americans (36 percent) want that "Quiet and Quaint" life similar to the neighborhood depicted in the popular TV show "This Is Us": one with curb appeal, lots of friendly people, and no urgent need to lock the doors.
  • The rising participation of millennials in the home-buying market was reflected by nearly three in 10 (28 percent) survey respondents identifying with more of a "Modern Millennials" vibe: they prefer a neighborhood where they can walk to everything, with reasonably priced bars, restaurants, and coffee shops nearby.
  • Ample outdoor space is important to one-quarter of Americans (25 percent) who value being close to organic farms, farmers' markets and hiking trails, while 21 percent prefer a "Family Centric" neighborhood where families live in close proximity to one another and are close to schools and playgrounds.
  • Less important neighborhood characteristics included cultural attractions (15 percent of respondents); a tech-friendly neighborhood with good cell phone coverage and electric vehicle chargers (12 percent of respondents); or an upscale urban setting (9 percent of respondents).

Does one of these neighborhoods sound ideal to you? Or maybe a place that combines features from each? Whatever your preference, when buying a home, make sure the neighborhood has a vibe that suits your lifestyle.

Source: Ally Financial. Reprinted with permission from RISMedia. ©2018. All rights reserved.

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July 2018, Buyer/Seller Edition

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