What does the term "local neighborhood" mean? Basically it covers a wide area which is big enough to cover a residential area but also consist of nearby stores which may be known as the local shop or "neighborhood grocery store."
Making sure that any type of essential stores or shops are nearby is very important. The necessity list would probably include places such as gas stations, grocery stores, convenience stores and even a dry cleaners. Easy access to major traffic routes, local highways, and mass transit should also be considered.
One thing you should always look for is decline in local shopping centers because if there is one then it could also be a good indicator that this particular neighborhood may also be on a decline. Do a little detective work in the area that your interested in. Go for a walk amongst where the storefronts are located. Try observing how many are empty or available for lease. If many of the stores are vacant lots you might want to consider moving your purchase a bit farther away to a new town or area. While you may not want your local neighborhood to be on the constant go you also want something that is convienant and has access to the things that you need for everyday living.
If you live in an area that is in decline more than likely it will only hurt any future resell value.
Searching for the right home in the perfect place? Chances are you'll want to check here first.
Gary Allalouf- RA
Hawaii Realty International
Hawaii Mortgage Basics