Something's mysteriously alluring about up-and-coming neighborhoods. Maybe it's the sense of opportunity or the feeling that you're one of the first people to discover a hidden gem. If you're considering buying a home, it's essential to ask yourself whether an up-and-coming neighborhood is right for you. Here's how to tell if a neighborhood is on the rise – and whether it's worth the investment.
1) Significant Renovations in the Area
All trending neighborhoods have one common sign! Significant upkeep and renovations! This could be anything from new construction to gentrification projects. If you see a lot of cranes and construction workers in an area, that's a good sign that the neighborhood is changing – and usually for the better.
2) Increased Foot Traffic -
Increased footfall is another tell-tale sign of a neighborhood on the rise. More people means more business for local shops and restaurants, which can lead to even more development in the area. If you see new companies popping up and people out and about, that's a good sign that the neighborhood is up-and-coming.
3) Rising Home Prices -
Hot property is in high demand, and real estate investors realize they need to buy in these areas before prices skyrocket. If you see home prices steadily climbing in a neighborhood, that's usually a good sign that the area is up-and-coming.
4) More Nightlife Options -
Young people moving to a new place need a spot to hang out and enjoy themselves. More nightlife options popping up is a good indicator that a neighborhood is rising. Seeing new bars and clubs and more people out and about at night is a good sign that the area is becoming more popular.
5) More Families -
Families are often drawn to neighborhoods that are on the up and up because they offer more opportunities for their children. If you see more families moving into an area, that's usually a sign that the neighborhood is becoming more desirable. New schools and family malls often seal the deal for most families.
6) Artists Moving to the Place -
The arts are often considered the first sign of gentrification in a neighborhood. Artists are usually drawn to cheaper areas that offer more space to work. If you see an influx of artists in an area, it indicates that the neighborhood is changing. Look for new art galleries, studios, and performance spaces popping up.
Keep an eye on up-and-coming neighborhoods – they're only going to get more expensive down the road. Luckily, with Bonnie L Miller PA, CNE-Exp Realty LLC serving Cape Coral by your side, you'll always have access to your area's latest real estate listings. Explore the latest listings in your area and get access to beautiful affordable homes near you.