How to Choose a Neighborhood When Buying Oahu Real Estate

Oahu has more than one hundred individual neighborhoods spread across 11 different “regions”! Which one should you choose? It’s best to narrow your home search on Oahu by identifying neighborhoods that are right for you. This helps keep your search focused and efficient. Home Shoppe Hawaii can offer you lots of Oahu real estate and neighborhood information to guide you in your search, and you can find Oahu Neighborhood Information on this website.

When evaluating Oahu Neighborhoods you should investigate the local conditions, as well as the prices of the real estate in the area. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others:

• quality of schools
• property values
• views
• traffic
• crime rate
• future construction
• proximity to the beach, schools, employment, shopping, hospitals, public transportation, freeways, airports, parks, stadiums and cultural centers such as museums and theaters, etc.

All of these factors can affect price and resale value, so can be important to the buyer of an Oahu home.

If you are from the mainland, you may be suprised at the mixed use and quality of homes in Oahu neighborhoods. Also, especially in East Oahu, there is not a lot of new construction. Most homes are older. Check out my article on Older Homes in East Oahu. The condition, size and character of homes within a neighborhood can vary greatly from street to street and block to block. Home Shoppe Hawaii would be pleased to offer you further assistance in narrowing the areas where you wish to look, to better pinpoint the Oahu neighborhoods and streets in which you may be interested.

NEIGHBORHOOD SEARCH STRATEGIES FOR LIMITED BUDGETS

If you’re a first time-buyer with limited financial resources, it’s wise to buy a home that meets your primary needs in the best neighborhood that fits within your price range. You can maximize your home purchase location by incorporating some of the following strategies into your neighborhood search:

• Upcoming neighborhoods: Look for communities that are likely to become “hot neighborhoods” in the coming years. They can often be discovered on the periphery of the most continuously desirable areas. 
  Check for planned future development such as additional transit; new community services such as pools and theatres; and new shopping planning to move in. 
  Look for a home in a good neighborhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation.
• Neighborhood demand:  Look at the neighborhood demand by asking your real estate agent whether multiple offers are being made (it sometimes still happens), whether the gap between the list price and sale price is decreasing and whether there is active community involvement. You can also drive around neighborhoods and see how many “sale pending” and “sold” signs there are in a particular area.
• Co-ownership/Leasehold: Look into purchasing a condominium, rather than a house, in a desirable neighborhood. Condos are usually less expensive than single-family homes.  In certain circumstances, you may also want to look at a leasehold, rather than fee-simple property, depending upon your needs. This way, you still may be able to purchase in a prime area that you otherwise could not afford.  Sometimes, the fee simple property is available for purchase at the same or a later time. However, make sure you are aware of and understand some of the potential pitfalls of owning leasehold properties, particularly when the fee is not available.

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Please contact Home Shoppe Hawaii for all your Oahu real estate needs: Honolulu Real Estate, Kailua Real Estate, Kaneohe Real Estate, Hawaii Kai Real Estate. Yvonne Ahearn, B08-721-8088.