How to Choose a Neighborhood for Your Home Search

Rochester MN is naturally divided into four quadrants.  If you are from out of town you'll quickly notice that all of our addresses specify the quadrant: NW, NE, SW, SE.  Center Street runs right through the middle of downtown and is the dividing line between north and south addresses.  Broadway Avenue (Hwy 63) is the dividing line between east and west address with just a few exceptions.  If you see an "avenue" it runs north/south and "streets" run east/west.  For Example, an address of 2nd St. SW immediately tells you that the street runs east/west, is two blocks south of Center Street and is west of Broadway.  Hopefully this will help you identify where a home is located just by looking at the address.

 

Many home buyers look for a home by quadrant first and then subdivision. We can help you narrow your home search by identifying neighborhoods that are right for you. This helps keep your search focused and efficient. 

 

When evaluating a neighborhood we can help you investigate local conditions. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others:

  • quality of schools
  • property values
  • traffic
  • crime rate
  • future construction
  • proximity to schools, employment, hospitals, shops, public transportation, prisons, freeways, airports, beaches, parks, stadiums and cultural centers such as museums and theaters

Neighborhood Search Strategies for Limited Budgets

If you’re a first time-buyer with limited financial resources, it's wise to buy a home that meets your primary needs in the best neighborhood that fits within your price range. You can maximize your home purchase location by incorporating some of the following strategies into your neighborhood search:

  • Upcoming neighborhoods: Look for communities that are likely to become "hot neighborhoods" in the coming years. They can often be discovered on the periphery of the most continuously desirable areas. The area Rochester natives call "Pill Hill" or "Old SW" is one such neighborhood.
    Check for planned future development such as additional transit; new community services such as pools and theatres; and chain stores planning to move in. For example, the new shopping district on Hwy 63 South and 48th St SW has caused a surge in home sales in this immediate area.
    Look for a home in a good neighborhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation. 
  • Neighborhood demand:  We'll help you look at the neighborhood demand by researching whether multiple offers are being made, whether the gap between the list price and sale price is decreasing and whether there is active community involvement. You can also drive around neighborhoods and see how many "sale pending" and "sold" signs there are in a particular area.
  • Co-ownership: Look into purchasing a condominium or co-op, rather than a house, in a desirable neighborhood. This way you still may be able to purchase in a prime area that you otherwise could not afford.

 

Luxury Homes in Rochester MN

Luxury Homes are unique, custom built homes in the upper 10% of the real estate market.  Buying and selling a home in this upper tier requires an informed agent, knowledgeable in this specialty area.  Lois Marris is a Certified Luxury Home Marketing Specialist (CLHMS).  Lois has received training unique to this area of real estate and has a proven record of upper tier sales.  Lois maintains a data base of information on all Rochester MN luxury homes.  

 

When looking for a luxury home in Rochester, keep these things in mind:

 

  • Upcoming Neighborhoods:  We have several new developments offering homes in the top tier of Rochester real estate.  Most of these areas are open to any builder.  When comparing these new developements we want to carefully consider future resale, school districts, covenant restrictions and more.
  • Existing Neighborhoods:  Existing luxury homes have struggled to compete with the new construction in most recent years.  There are, however, some exceptions.  Our experience in the luxury home market will help you know which existing areas are in hot demand and which are considered  a "soft market", thus helping you make a wise offer and purchase. 
  • Luxury Builders:  There are a select number of trusted luxury home builders readily accepted by the Rochester luxury market.  A noted builder can and does make a difference at the time of resale.  David and Lois Marris are familiar with the luxury home builders of the past and those of today.  We will be delighted to assist you with your luxury home purchase whether it be an existing home or new construction.