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Things to look for in a neighborhood.

When picking the ideal neighborhood, first consider what you plan for your life this year, in five years, and in ten years. If you're buying, give these three time frames the same importance. If renting, this depends on how flexible you are about moving.

Next, look at these four big areas of concern.

1. If you have children, or plan to five or ten years down the road, you'll want to look into the schools, places for play, safety and health, and other child-oriented amenities.

School quality is more than just test scores, though those are a good place to start. The state's department of education website should have the scores, but only a visit to the schools can tell you whether you'd feel comfortable sending a child there. Read the local papers for education news, and check with the district about busing/placement policy. You don't want to pay extra to live near the nice school, and have your child sent across town to somewhere you like less.

Places for play include your yard, school playgrounds, nearby parks, community centers, and businesses that provide play opportunities for kids.

Generally, you want to be a little farther from freeways if you have kids. Higher traffic and pollution make housing within a mile of a freeway generally less healthful for children. Asthma from particulate pollution is a special concern. Unsafe streets are marked by an absence of sidewalks, speeding cars, tire marks, trash and lots of bars on neighborhood windows. You don't want fast cars, litterbugs or robbers around your kids much.

2. If you want to invest in a suburban house for profit, pick a neighborhood with fewer cars parked on the streets. This is an informal signal real estate agents associate with high value residential neighborhoods. Of course, for dense urban markets, this does not apply. In those areas, look for how the commercial properties are arranged, and the variety of them. Generally, mixed development with high-end retail shops increases residential value, and clustering of shops on busier streets makes nearby residential areas more appealing.

3. Always take transportation into account. You might switch jobs, or have other changing transportation needs, so you will want to locate your home near transportation options. This does mean freeways and expressways, but also bus, light rail and train routes. Identify your best prospects for employment by location. Stockbrokers will mainly work in financial centers; teachers in residential areas. Then look at the options. Estimate your travel time and expenses, and weigh that as a factor in choosing a place to live.

4. Last, what will you need for your daily routine? Can you get by without a coffee shop nearby? Do you jog, and if so, where would you? Sports fans might want to be a short trip from a stadium, while nature enthusiasts want more trees to hug. Make sure your neighborhood lets you pursue your pastime.

Learn more about this author, Stephen Shea.
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