Neighborhood Regret

Buyers frequently regret choice of neighborhood, survey finds

When looking at the available home listings on the market, a buyer can easily forget to evaluate the neighborhood as well. A recent survey from the real estate site Trulia determined that this oversight is fairly common, with more than one-third of buyers have experienced "neighborhood regret."

Trulia commissioned an online survey through Wakefield Research to poll a nationally representative sample of 1,000 adults who bought or rented a home in the past three years. Another 400 respondents were polled in each of three designated market areas, namely Chicago, San Francisco, and Austin, Texas.

Thirty-six percent of respondents said they would move to neighborhood other than their current one if given the chance to choose a home again. City-dwellers were more likely to experience regret, with 46 percent saying they would pick a different area to live. Thirty-one percent of rural respondents and 30 percent of suburban respondents felt the same.

Asked what factors influenced their decision to live in a particular neighborhood, respondents were most likely to cite its "vibe," or general way of life. Forty-eight percent gave this reason.

Thirty-seven percent said the commute time to their place of employment factored into their decision. The same share said a neighborhood's crime rate influenced their decision.

Respondents were most likely to say they were disappointed in a neighborhood's lack of social activity, with 28 percent giving this reason. Twenty-one percent said their street was noisier than expected, with 16 percent saying there was frequent traffic and the same share saying there was a lack of public transportation.

However, few respondents said they had done much research into the neighborhood before choosing a home, with 77 percent saying they did not think there was a good single source available for information on a neighborhood. Nearly three-quarters of all respondents—74 percent—said they didn't research police reports related to a neighborhood before moving. Fifty-four percent said they consulted with two sources or fewer for information on an area.

Forty-seven percent said they hadn't visited their neighborhood at night before moving in. Just 38 percent said they had searched for photos of various parts of the neighborhood, while 37 percent said they had visited popular spots in the neighborhood.

Buyers can get a feel for a neighborhood in a variety of ways. Brendon Desimone, writing for the real estate site Zillow, says one option is to talk to current homeowners in the area to see what they like and dislike about the area. It can also be helpful to visit at different times of day and on the weekend, and to see if a neighborhood newspaper or blog is available.

Some aspects of a neighborhood may hint that it is safe or enjoyable. Ashley Chorpenning, writing for the retail mortgage lender Quicken Loans, says these include children playing outside, signs for neighborhood watch groups, and community events.

Several apps and online services are available to track crime in a neighborhood. These resources can let you know what crimes have been reported in the area and when they occurred. They can also inform you if any sex offenders are residing nearby.