To Neighborhood or Not To Neighborhood, That is the Question

Should you buy a home in a neighborhood or not buy a home in a neighborhood? Last year I had two listings that took way longer to sell than anyone would have guessed and both were because of neighborhoods. Ironically one was in a neighborhood and one was not. The home not in a neighborhood kept getting feedback that people didn’t like that it was on a somewhat busy cut-through road with no sidewalks. Even though my clients loved sitting on their large front porch with their kids watching the world go by, most people wanted a home tucked back in a neighborhood where they could walk their dogs and not deal with traffic. 

The home I listed in the neighborhood was one of the newest and largest homes. The neighborhood was started pre-recession and then picked back up a decade later so had a large mix of ages and by design house styles and sizes. Unfortunately the homes that had most recently sold were of the older and smaller variety. Even though the house was immaculate and had a great layout, realtors and buyers alike kept comparing it to the other homes in the neighborhood. The exact same home in a different Athen’s neighborhood would have sold for at least $20,000 more.

So should you buy a home in a neighborhood or not buy a home in a neighborhood? Like so many things in real estate, it really depends on what’s most important to you. Here are some things to consider.

👍 Pros of Living in a Neighborhood 

1. Sense of Community

• Easier to meet neighbors

• Social events, block parties, shared spaces

2. Safety & Security

• More people around → “eyes on the street”

• Sometimes includes neighborhood watch or gated access

3. Amenities

• Pools, parks, playgrounds, walking trails

• Maintained landscaping and common areas

4. Walkability & Convenience

• Good for families and pets

5. Property value stability

• Rules help maintain a consistent appearance

• Can protect resale value

👎 Cons of Living in a Neighborhood 

1. HOA rules & fees

• Monthly/annual dues

• Restrictions on things like paint color, fencing, parking, decorations

2. Less privacy

• Houses often closer together

• More noise from neighbors

3. Less individuality

• Homes can look similar

• Limited freedom for customization

4. Potential neighbor conflicts

• Noise, pets, parking, etc.

5. If the neighborhood sales are lower, you might not be able to sell your home for as much money as you could in a different neighborhood 

6. You could end up over improving your home. If you want to put in a pool or have a designer kitchen, if your neighborhood doesn’t typically have those improvements in homes, then you might not be able to resell your house for as much as you could somewhere else.

I often have clients that clearly know they want to live in a neighborhood and those that clearly do not want to live in a neighborhood. It is also possible to find homes that have the best of both worlds. As someone who lives in downtown Watkinsville, I have all the conveniences of a neighborhood without the fear of over improving my house. I also don’t have any HOA fees. I am a big fan of small town, downtown living. This is partly what drew Latetia to her home in Greensboro (although the historical beauty and incredible features were the big draw). If you are someone that can’t decide between neighborhood living and more rural living, try a charming downtown and get the best of both worlds → Latetia’s house!