Three Ways to Determine Which Neighborhoods Are Up and Coming

Published:
August 14, 2015
Last updated:
March 10, 2022
Post cover image
In This Article

If you’re moving to a new city and you’re looking for an affordable home in a nice neighborhood, one great way to get a fantastic home without paying sky-high prices is by choosing a home in an up-and-coming neighborhood. Communities that are starting to gentrify make it easy to find an affordable home, especially if you buy before the prices start to rise.

So how can you spot a neighborhood that’s on the rise? Here’s what you need to know.

Look For Neighborhoods Popular With Artists & Young People

Young people, artists, musicians, performers, and other bohemians tend to lead the way when it comes to neighborhood revitalizations. These are the kinds of people who typically don’t have copious amounts of disposable income, so they’re looking for something affordable. But they also want to live in a hip, trendy part of town.

And as the area gains more and more creative types, it starts to take on its own creative personality. That makes it attractive to all manner of buyers, which starts driving more and more sales. So if you want to find an up-and-coming neighborhood, just follow the artists, musicians, and Gen Y buyers.

View Current Mortgage Rates

Track The Area’s Average Days On Market

One great way to find which neighborhoods are the most popular with buyers is to track the average number of days on the market for properties in those neighborhoods. Your real estate agent can help you find this information. If you notice a slow decrease in days on market over time, it’s a good sign that the neighborhood is on the up and up.

Oftentimes, in an up and coming area, the days on market will decrease before prices start to rise – which will help you get a great deal.

Look Up Building Permits To See Where The Renovations Are

You can also tell if an area is up and coming if there’s a lot of renovation activity happening. Visit your municipal government office and see if you can find information on which neighborhoods are seeing more and more building and renovation permits. Lots of construction and renovation activity in an area indicates that it’s a great place to move to.

Finding a great neighborhood is critical to being satisfied with your home purchase. There are lots of things about your home that you can change, but the neighborhood isn’t one of them – so make sure you’re happy with the area before you buy.

Get an Instant Mortgage Rate Quote Today

Have Questions About Mortgages?

Sammamish Mortgage is a local, family-owned company based in Bellevue, Washington. We currently offer several mortagge programs to borrowers in all of Washington, Oregon, Idaho and Colorado since 1992. Please contact us if you have mortgage-related questions.

Other Blogs You May Like
What Percentage of Income Should My Mortgage Be in Washington?
October 28, 2024
7 min read
What Percentage of Income Should My Mortgage Be in Washington?
You might have heard that a mortgage loan should only use a certain percentage of your income. This...
Historic Homes in Tacoma: A Buying Guide
October 24, 2024
8 min read
Historic Homes in Tacoma: A Buying Guide
In addition to being one of the most affordable real estate markets in the Seattle area, the city...
Show 253 more posts
from this category

Connect with a Mortgage Advisor Today!

Whether you’re buying a home or ready to refinance, our professionals can help.

Compare Mortgage Rates in Your Area Instantly

No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.

Subscribe to our newsletter