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You cannot change a neighborhood's value, but you can always add or upgrade those features at a later date. Most real estate professionals will tell you that it is better to buy a home that needs some work in a good neighborhood than to buy a home that has all of the bells and whistles but is location-ally challenged. Buy in a location that is close to work, schools, shopping, hospitals and recreational facilities, and no matter what your needs, you will find them quickly and easily met. That is to say, you will enjoy living there. As with all rules of thumb, there are many caveats. Often, you are attempting to pick the next "hot neighborhood" and you may believe that the current disadvantages are outweighed by the speculation value. Always keep in mind that you will want to enjoy living in the area that your home is located. Issues of safety, transportation, schools and shopping should always be at the top of your mind.
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