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A Resource For Home Buyers

We want to be a one-stop home buying resource for you, and one way we’re doing this, is by providing helpful tips and information about the mortgage industry, buying and selling your home – and many other useful topics that you’ll likely encounter on your path to home ownership. We’re confident that you’ll learn something new every time you visit this page.

Unpopular home locations and why they might actually be great

Unpopular home locations and why they might actually be great

When you begin thinking about buying a home, it's natural to create a list of must-haves and would-nevers. You must have a backyard, but would never settle for the house next to a busy train station.

While it's important to know what you're looking for in a home, it's also good to be open minded about your options. Letting your preconceived notions dictate your home purchase could cause you to miss out on some wonderful properties.

You may find your perfect home hidden in one of these three commonly unpopular home locations:

Next to a cemetery

Regardless of whether you're superstitious, the house next to the graveyard may not be the most appealing. Not only might you wonder whether your house will be haunted, but you'll also have to contend with lower property values. Homes in the same zip code as a cemetery are, on average, 12 percent lower in price than similar houses positioned a safe distance from the spirits, according to Realtor.com.

Lower property values might be a bonus when you buy the home, though they'll also indicate it'll be more difficult to sell or to make a profit on the sale. However, there are other benefits to living beside the cemetery.

It's peaceful, explained Jeanne Sager, who bought a home next to a cemetery, in an article for Realtor.com. Every so often there will be a funeral, when she hears the excavator dig the grave and a parade of mourners. But funerals are relatively quiet and non-invasive processions, so she isn't bothered by them.

On a hill

When looking at a home built on a hill, it's important to consider the drawbacks of the slope. Consider the walk up or down the hill on a windy day, or while carrying a holiday dinner's worth of groceries.

Assess how the location has affected the foundation over time, or will have an impact on the structure of the home in the future. Try the marble trick, suggested Kevin Lampen-Smith, chief executive of the Real Estate Authority, an agency that regulates the New Zealand real estate industry. Place a marble on the floor and see where it rolls.

If the home is in good shape and the hillside walk seems doable, you can appreciate all the benefits to living on the hill. For one, the view is great. Additionally, a hilly landscape gives you more options for creative additions to your home, such as a basement walk-out, Atlanta Fine Homes noted.

Near the fire station

Living next to a fire station means hearing sirens every so often; that's a fact of the location that a homebuyer needs to accept. However, depending on the town, there may not be as many as you think. The most active fire stations tend to be those that are available full-time, provide additional services like medical help, or are the sole station in town, MoversAtlas pointed out.

If you don't mind the noise, living next to a fire station has numerous benefits. Should a blaze begin in your home, you're in the right neighborhood for a quick response. Additionally, if you or anyone in your home has medical challenges, help may be just around the corner. Further, proximity to an emergency response team may reduce your insurance rates.

When you get started seeking out your perfect property, reach out to The Federal Savings Bank. We'll help you begin the preapproval process and review your mortgage options.