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What Makes the Perfect Neighborhood?

neighborhoodsWhat are Americans looking for when it comes to finding the perfect neighborhood to call home? Ally Home, the direct-to-consumer mortgage arm of Ally Finance, conducted a survey of more than 2,000 people in order to dive deeper into what they are looking for in both a home and a neighborhood. Of those surveyed, nearly nine out of 10 people (88 percent) said the "vibe" of an area was important in choosing where to live, with half of those (49 percent) respondents categorizing it as "very important."

Moreover, nearly three quarters (73 percent) of those surveyed said they would consider settling for a smaller house than they wanted and/or pay a little more if the surrounding neighborhood appealed to them. Eighty percent of those surveyed said their ideal local needed to match their personality, and 82 percent said they would consider moving if the neighborhood vibe didn't mesh with what they wanted.

But what type of area matches those desired ideals? Thirty-six percent of those surveyed said they wanted a "quiet, quaint" area with "curb appeal, lots of friendly people, and less of a concern to lock the doors." Twenty-eight percent of respondents were looking for more of a "modern millennial" kind of localeone "where they can walk to everything, with reasonably priced bars, restaurants, and coffee shops nearby."

Outdoor space was also cited as an important concern for potential homebuyers. A quarter of those surveyed said they wanted a neighborhood close to "organic farms, farmers' markets, and hiking trails," whereas 21 percent said they were seeking a "family centric" location, where "families live in close proximity to one another and are close to schools and playgrounds.

Click below to watch Ally's "man on the street" interviews with people discussing what they're looking for in an ideal neighborhood.

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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