When you search and compare neighborhoods, look beyond the present. Imagine potential. "Fixing" neighborhoods can create far more value than merely fixing properties.

List all of a neighborhood’s good points. How can you and other property owners, tenants, police, concerned citizens, and community leaders join together to highlight and take advantage of these features? List the neighborhood’s weak points. How can you and others eliminate negative influences? Who can enlist to promote your cause?

Some real-estate advisors consider the importance of neighborhood together with the importance of school assuming that when we talk about neighborhoods school status is assumed. However, we want to make sure that you appreciate the importance of good schools, even if you do not plan to use them.

If you have a family or are planning to start one, chances are you will want to purchase a home in a community that values its children’s education. You may opt to visit the schools, attend a board of education meeting, or research school statistics, including grade point averages, athletics, and college-bound graduates. While there is no guarantee that the schools will stay the same, good or bad, for the next eighteen years, starting off in a district whose education style complements your own can be a comfort.

If your intention is to rent properties to tenants using a standard one-year lease, you may be tempted to forgo any school research. We recommend against this. First, potential renters could have school-age children. Second, even though you are buying a property with the intention of renting, you always want to keep an eye toward resale. School staff turnover and the intentions of the board of education cannot be predicted, but as you are looking into solid neighborhoods, you can safely bet that a school will grow with its community. Even if school is not on your radar it could be very important to the next property owner.

To get an insider’s feel for the schools, talk to the parents who use the system. Local moms’ clubs are an often-overlooked avenue of investigation. These groups usually have a contact person listed in the local paper. You can reach out to these parents and get a firsthand account of what raising a family in the area is like. These parents can also tell you about local shopping, traffic, parks, and community events. As a businessperson, you not only want to look at what needs you have but how your investment can best serve the next owner when you decide it is time to move on to your next project.