You walk into a house, and it is love at first sight. You love everything about this house, from the countertops to the wall; there is not a single thing that may deter you from buying this house. When the realtor tells you the price of the property, you are shocked. How can such an attractive house be sold at such a low price?
Chances are, this property is right in the middle of a crime-ridden neighborhood. It becomes quickly less appealing, doesn’t it? Will a high crime rate stop you from buying the house of your dreams?
What Is the Crime Rate?
Crime rates vary. In some populations and at certain times, crime prevalence is much higher than in other populations and at other times. The crime rate is calculated by dividing the number of reported crimes by the total population; the result is multiplied by 100,000.
Whenever there is a decrease in the crime rate, there is an increase in property prices and vice-versa.
Crime is declining…
Crime is real, it exists, and it is far from extinct… and another victim is one of too many. However, we should face the truth; although you may fear buying a house in a neighborhood where the crime rate is high, you should face the fact that the numbers are declining.
Crime in the United States and the United Kingdom or any other developed country is in decline. Some items are more prone to being stolen than others, so measures can be taken to avoid being the next victim of burglars.
Over The Stats
It is very reassuring to look at the stats and tell ourselves that crime rates are declining, but crime is most serious because of how it makes us feel. However, you should know that there is not a single place in the world that is immune from crime. Will you decline a good offer because of the crime rate? Maybe yes, maybe no, but we shouldn’t let crime be the only problem when declining.
Statistics are merely numbers, and if we allow statistics to control our life, we won’t get in a car after seeing the number of fatal accidents. Not to be a philosopher, but life is made of ups and downs, there are drawbacks to everything you will do, and if you live in a full cautious mode all the time, you will live a boring life.
Keep in mind that sometimes crime rates are higher in big cities because the population is denser, but you should also know that big cities sometimes have the best schools and all other amenities.
Checking Crime Rates
You will need to carry out some research on your neighborhood about the crime rate. You may contact the police for some statistics and maybe conduct your own online investigation. You may want to check for your exact neighborhood. If the stats do not reassure you, knowing what you would get yourself into is better than going in blindly and regretting it afterward.
Impact of Crime on Property Values
Crime affects everyone around: the victim directly and society indirectly. It is not pleasant to say that you come from a high crime rate region. Crime affects real estate as well; houses prices decrease significantly after criminal actions.
For those who own properties in high crime areas and are looking to sell quickly, there are some measures you can take to your property that can help. Consider adding some effective and highly regarded security features to your home. These measures will make it harder for criminals to break in and make your home appear safer to potential buyers. Let us know in the comments if you are willing to buy a house in a high crime rate neighborhood.