WHAT MAKES LOCATION AN IMPORTANT FACTOR WHEN MAKING A HOME!
The size and condition of your house can be changed, and so can be the price. But one thing that remains unaltered is the location!
A good location generates desirability, which further generates demand. And what does demand generate? Of course, a great value for your property!!
You might have to shell a few extra dollars to buy your house in a good location, but it brings along a peace of mind by generating more profitable options for you down the road.
Whether you are constructing a house or buying one, location is one crucial thing you should seriously consider. A property located in good area will always fetch you better price when selling, as it will always be more in demand. Whereas the same property will not appeal, if it is located in an undeveloped area, hence will not generate as much as you expect from it.
Considering the below mentioned factors, before buying your house, may benefit you in many ways:
- Accessibility to amenities and transportation: Proximity to basic amenities and transportation is something important and one of the reasons why location happens to be such a substantial factor in the real estate domain! Buyers look out for a convenient distance from schools, shopping centres, grocery shops, restaurants, dry cleaners and entertainment. This also includes their house situated near important roads and public transportation systems, like the bus stop, subway stations or public bike share locations. Considering the presence of all these important amenities in the proximity of your house, will typically improve its value.
- Crime rates in the area: While evaluating your house’s location, crime and safety should be on top of your mind! Of course, no one will ever prefer to live in a neighbourhood that is high on crime rates. You could always find local crime reports and crime rates on the Internet while planning your purchase in a certain area. Additionally, you could also checkout on the websites and public forums that give you regular updates on burglaries, thefts and other crimes that occur in various areas.
- The lifestyle and neighbours: This is yet another important factor to keep in mind while buying your house, as this is going to directly impact your lifestyle and also your peace of mind. So before buying, give yourself ample time to spend around in the neighbourhood so as to get a good sense of who all are living there. Although it entirely depends upon your choice if you want to live among young families or retirees, or would prefer to nestle among a tight knit community or otherwise. But in any case, ensure it is a preferable neighbourhood, else it might also reflect on your resale value when you are out to sell it.
- Future potential for appreciation in value: Location is the key factor which dictates the demand and thus the future appreciation potential and value of the property in the real estate market! You can expect the value of your house to rise substantially overtime, if it is located in a desirable neighbourhood. And this increase in appreciation continues as the demand for the location keeps increasing.
Ready to move to your desired home?
Well, now that you know location is the key factor to consider when you purchase your house, we can assure you that you will surely arrive at the most worthwhile decision!
So get ready to start planning your next move!!
