The best method of picking a neighborhood is to spend time in the neighborhood. Simply parking on a street for an hour or two can be enlightening. However, the entire neighborhood should be studied. An older neighborhood that may appear to be run down might also have signs of signs of resurgence if the buyer looks carefully. While, an older neighborhood often has homes which can be purchased at reasonable prices, those homes may also come with a higher after-purchase cost as renovations might be needed.
Newer neighborhoods come with initial higher housing costs than similar older homes.
Such neighborhoods might also experience a higher rate of owner turnover.