- How Much Money Is Needed To Invest In Rental Property?
- Should A Real Estate Investor Get An Agent’s License?
- 5 Big Factors That Affect The Costs Of Renovating Your Home
- SIBOR Hike – What You Can Do With Your Current Loan
- 6 Basic Don’ts Of Real Estate Negotiation Tactics
- Will New Condo Relaunches Trigger The Great Property Sale We Have All Been Waiting For?
- 10 Proximity Amenities That Add Value To Real Estate
- How To Get Personal Loans More Easily With Good Credit
A bedroom community is a term used to describe a small area with a population mostly made up of commuter residences and small businesses setup to primarily serve the community.
Sometimes also referred to as dormitory towns, the small local establishments might consist of services like:
- Grocery stores
- Coffee houses
Bedroom communities are often located in the suburbs.
They are often either meant for very wealthy people, or one that caters to a foreign labor force.
An exclusive area targeted at the wealthy for example, might have schools that are less crowded, streets that are less congested, air that is less polluted, etc.
Homeowners in such areas can expect to pay a higher property tax per square foot compared to that of real estate situated in the city.
Do note that an area meant for dormitories will have an opposite effect.