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The three most important things when you buy a house are “Location, location, location.” There is quite a bit of truth to that old adage. Your home is not just the dwelling you live in, but also the surrounding neighborhood and community. While each person’s needs are different, there are certain things you should consider when you buy a home.

Lifestyle
It’s important to make sure that the location of your new home suits your lifestyle. A house may be gorgeous, but if it’s right in the middle of a bustling town center, and you prefer peace and quiet, it may not be the best choice for you. Likewise, a person who enjoys the convenience of living close to shops, restaurants and other amenities may feel isolated living in a quiet, residential neighborhood or country house.

Home buyers should also consider a home’s proximity to work, school (if you have children), supermarkets, pharmacies and restaurants. Think hard about any inconveniences before you buy. You may be willing to drive 30 miles both ways to your job, or 15 miles to the grocery store, in the excitement of buying a home, but what happens in two years when snow has turned that drive into a two-hour slog? Be very honest and practical about your location needs and remember that you could be at this address for a very long time.

Schools
If you have children, or are planning on having children, you’ll need to consider the quality of the school system in the community. For kids in middle school or high school, you will generally have one school per community, or a regional school that serves several communities. Many communities have several elementary schools in different parts of town, and there can be big differences in the quality of education from one side of town to the other.

Before you buy a house, check websites that rate community school systems based on standardized test scores, the amount of money spent per child per year, student-teacher ratios and other common factors. If you can, talk to parents in the community, and see what they think of the schools. Remember that if you love the house but hate the schools, you can send your child to a private or parochial school. Think of this as a short-term increase in the cost of owning your home.

Crime Statistics
Before you buy, check out the crime statistics for the area. This information can easily be found online. There are websites dedicated to graphing various crime statistics by ZIP Code, detailing the types of crimes and how crime rates compare to surrounding communities. There are also websites that will let you know if there are registered sex offenders in your neighborhood.

Property Values and Potential
Your new home is a huge investment. It’s important to look at how property values measure up in the communities you are considering. Is the neighborhood up and coming, with new growth and increasing home values? Or is the community in decline, with property values dropping and businesses going under? These are important considerations, as you want to be sure that your home’s value will increase, not decrease, over time.

A bit of research will give you some insight on how property values might change after you buy a house. The easiest thing to do is to drive around town, looking at schools, roads and the downtown area. Look for well-maintained public buildings and roads and a busy, clean downtown area.

Learn what you can about the geological history of the town and the home you are considering. Some areas are prone to tornados or high, damaging winds. Coastal areas may be subject to blizzards, hurricanes or flooding. Even inland areas can flood when heavy rains fall. Remember that you will be living in your home for anywhere from 10 to 30 years when you hear stories about “rare” floods.

Next, find out about the people who live in town. Check back issues of local newspapers at the library to see if tax revenue is growing or shrinking. Learn about the top employers in the area as well; if everyone works at a plant that is in constant danger of shutdown, the town could collapse if the plant closes its doors.

Finally, consider what is taking place in the region. Are there plans to put an airport next to your potential home? Could a nearby highway or shopping mall project rob the community of traffic and close downtown businesses? Are major employers in the area expanding their operations?

Armed with this information, you will be able to determine whether your home is likely to increase or decrease in value in the coming years. Remember that there are no guarantees, only situations with a higher potential to increase the value of your home investment.