No single factor coaxes a buyer into plunking down earnest money for a home, but how do you determine what makes the best set of factors to entice your particular buyer? Perhaps it's getting them to purchase the least expensive home on a great block. Real estate company Redfin has been delving into just those data sets. Some affordable homes are in city neighborhoods near highly rated schools and within walking distance to everyday amenities. But finding them can take some detective work. Refin researchers recommend searching in neighborhoods that have a plethora of homes at higher price points, too. But before dismissing that strategy, consider what crunching a variety of variables has shown Redfin: neighborhoods with a mix of home prices are three times more likely to be walkable and have highly rated schools than are purely affordable neighborhoods. If you are looking for an affordable home, your instinct might be to search in only affordable neighborhoods. And...
- Redfin examined data on affordability, good schools and walkability for 170 neighborhoods.
- Three DC neighborhoods ranked in the top 10.
- The data suggest looking for a neighborhood with a balanced mix of home prices as well as a high WalkScore and GreatSchools score.