| Finding the right area to buy a home in today's real | | | | by attracting more involved and demanding residents |
| estate market may seem overwhelming. The hope | | | | that municipalities want for their contribution to the tax |
| that we will find something near restaurants, good jobs | | | | base. |
| and good locations for small businesses can get | | | | Many municipalities encourage such revitalization with |
| complicated and very expensive. | | | | tax incentives and government loans. Municipalities |
| Having your home above a store is a good lifestyle | | | | want a healthy tax base instead of a bunch of |
| with a long and distinguished history. Business owners | | | | abandoned properties harboring criminals and will work |
| can save and prosper with this basic money saving | | | | to get things going. Investments follow the improving |
| approach of working and living in the same space, | | | | business climate. |
| however It just seems really hard to find the right | | | | As things begin to improve, people come to shop and |
| location. | | | | business pop up. Values go up slowly at first and then |
| There is a way however to find affordable locations | | | | faster. All these businesses and homes feed the |
| and the quality of life many want and set yourself up | | | | revitalization. For those of us who don't cook it's the |
| to make very good money if you ever want to sell. | | | | best of all worlds, restaurants, coffee shops and work |
| Just follow the artists. | | | | all close by. |
| Why? | | | | Part of the attraction may be the older buildings with |
| Artists usually struggle to make money early in their | | | | special architectural details. Large old mansions may |
| careers. They are also motivated by more than just | | | | turn into multi-family housing or even mixed-use |
| the need for some place to live. They also want quality | | | | buildings. Big buildings could serve as homes as well as |
| of life that real estate developers often ignore. They | | | | businesses. A savvy real estate investor might have a |
| need to be near other artists, places to work and | | | | restaurant or antique store or rental units AND a home |
| venues for their art. | | | | in one building. |
| Unlike artists, real estate developers want | | | | And before you know it, you're living in a desirable |
| neighborhoods to be limited too much to guard existing | | | | location. We have old friends who have lived their |
| property values like gated communities and suburban | | | | entire life in such surroundings. The neighborhood |
| life styles do. City dwellers want coffee shops, | | | | wasn't great when they first moved there shortly after |
| restaurants, movie houses and galleries within walking | | | | they married, but now they live in an old house with |
| distances, not 10 miles away. | | | | lots of character and quaintness. It had to be |
| The creative atmosphere that comes from the artistic | | | | remodeled, of course. Restaurants and shopping are |
| and entrepreneurial people encourages businesses to | | | | very close. No need to get into the car. Best of all, the |
| spring up around them, further enhancing deteriorated | | | | sale of the house could make their retirement very |
| neighborhoods and improving the quality of life for | | | | comfortable. It's worth significantly more than what |
| everyone living nearby. | | | | they have in it and a beautiful city park is just 2 blocks |
| Although the payoff in such areas may be slow to | | | | away. |
| develop, the eventual payoff could be significant and | | | | Are they happy? You bet! |
| generate good places to live and do business. | | | | If you can handle a bit of risk and danger for a few |
| These mixed-use neighborhoods can revitalize | | | | years, it just might pay off big. |
| degenerating places and push out the bad elements | | | | |