September 2023

City? Suburbs? Meet in the middle.

When it comes to buying a home in the city or the suburbs, many people know exactly where they want to be. Others are on the fence. They may be attracted by the walkability and array of entertainment options in the city, but long for the space and affordability of the suburbs. If that sounds like you, a middle neighborhood might be just the right choice.

What is a middle neighborhood?

There's no strict definition. Generally, middle neighborhoods tend to be farther out from the city center, but closer than the suburbs. The population is less dense than in the city, with a mix of small, single-family homes and moderate-sized, multifamily units. While yards are smaller than in the suburbs, public spaces like parks are more readily available, and restaurants and other amenities are within walking distance.

What are your home buying priorities?

Individual preferences vary, but most homebuyers can be divided into:

  • People who prefer cities: They prioritize the walkable neighborhoods, entertainment and cultural options, and convenient public transportation they can find downtown.
  • People who prefer suburbs: These homebuyers look for more space in single-family homes with private yards, as well as a lower cost of living than trendy city centers can offer.

Is the middle right for you?

Middle neighborhoods can offer some of the best of both the city and the suburbs.

If you yearn for city life, a middle neighborhood can offer you:

  • Affordability. Homes in middle neighborhoods typically cost less than homes in the center of the city.
  • Elbow room. Get more space than you could get downtown in an apartment or condo.
  • Outdoor access. Many middle neighborhood homes have small private yards to enjoy.

If you lean toward the suburbs, a middle neighborhood offers:

  • Lower transportation costs. With more amenities within walking distance plus better access to public transit, you'll spend less on car expenses, like gas, maintenance and parking.
  • Less time on yard work. If you enjoy outdoor space but aren't thrilled with the upkeep, a smaller yard could be right for you.
  • Easy access to entertainment. Walk to parks, restaurants, shopping and more.

Explore your options

Before you jump into a middle neighborhood, think about your needs and preferences. Then consult your real estate professional, who can help you explore neighborhoods in your area and find listings that may meet your needs.

As with any home search, if you find a home that looks appealing, be sure to visit the neighborhood, walk around, and see if it offers the features you're looking for. Is there a convenient spot for some great pizza, bagels or coffee? Can you stroll to the library or the park? Remember, you're not just buying a house, you're buying into the whole neighborhood experience.

After you weigh the pros and cons, you may decide the middle is exactly the right place for you.

A note from your lending specialist

Don't forget to contact me to get preapprovedFootnote1 before you start your home search. Whether you love the city, the suburbs or the middle, I'll be happy to help you get into your next home.

1 Final loan approval is subject to satisfactory appraisal and title review and no change in borrower credit and financial condition. Preapproval is subject to terms and conditions and timely submission of required documentation; ask your Lending Specialist for details. Preapproval does not commit to the continued availability of the loan program. The interest rate shown in a preapproval is based on our current pricing and is not locked. You may choose to lock an interest rate after we receive the complete and executed purchase contract. Borrower must submit purchase contract within 90 days of preapproval. If the rate at time of lock is higher, or a rate lock expires prior to funding, or for adjustable-rate loan programs when the index value rises, we must determine your ability to repay the loan at the higher rate, which may lower the loan amount or invalidate the preapproval. Not available on all loan products. Not available on refinance loans.

MAP5821959 | 08/2023

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