Buying a lower-priced home in a community on the rise can be a good long-term investment.
Here’s how to spot an up-and-coming neighborhood…
Look for artists and young people. They often move to struggling neighborhoods for cheaper rent, then provide a hip makeover.
Restaurants and other businesses open to cater to the young crowds, and the entire region benefits.
Find areas where governments are funding community projects, which will likely increase property values over time.
Consider an area that borders a neighborhood on an upswing, as it may be next in line for a revitalization.
Ask your real estate agent about neighborhood conditions and how things might change.
