Why the location of your property is vital
Category RealADVICE
In real estate location is everything. Property gurus often stress that choosing the right location for your property is one of the most important factors when it comes to house hunting. The size, price, and condition of a home can be changed. However, you cannot change where the house is situated. The location of a property can often make or break an investment opportunity. Not forgetting the earning potential of a residential property.
Let's find out why the location of your property is vital:
The first step to buying a property is deciding on the city or area that you wish to invest in. Whether you are buying a bachelor apartment or your next family home, once you have decided on the city you can start researching particular areas. This will help you discover what is best for you.
Easily accessible
The area should ideally be near major routes that have more than one point of entry. Think about commuting to and from work. It is a big part of many people's day. Therefore, the more accessible the area is, the less stressful will your travel route be.
The appearance of the area
The appearance of the area is a major turning point for some homeowners. Shabby looking areas tend to have negative perceptions. Buying a home here may not attract potential renters. It can even be difficult to resell in the future. Clean streets with large trees, landscaping, and nearby green spaces tend to be desirable to home buyers. You can also judge the popularity of the area based on how long property stays on the market.
Closeness to amenities
If you have to drive a distance to get to grocery stores, shops, and restaurants it is likely to make the area less attractive. Good areas should enhance convenience. The proximity to schools and the quality of education the institute provides are further factors to consider. You do not want to spend too much time dropping off or picking up the kids from school each day. It can become tiresome. Even if you do not have kids, selling your home in the future may be a hassle if buyers are on the lookout for good schools.
Safety
An area with a low crime rate is considered as a safe place to be and raise a family. Crime stats are easily available online and from the local police station. People do not want to purchase property in a spot that is known for criminal activities. It will be a nightmare to live in as you are always watching your back and fear the safety of your loved ones. It will also be impossible to sell at a later stage.
Prices of property
Where you choose to live in a city or town will affect the price of the property. Highly developed cities that do not have room for additional growth tend to have higher price tags than those cities that have plenty of room to expand. Rates and levies in popular areas are also higher than that of apartment complexes which are situated in undesirable areas.
Future development plans
While present features are what attract buyers to an area, future plans should also be looked into. Future developments can either be favourable or unfavourable in the long run. Plans for schools, hospitals, public transportation, and other public infrastructure can dramatically improve property values in the area. However, certain future industrial developments that can cause health issues is not the best place to live in.
Deciding on the perfect location for your next property is a vital task that requires immense research. Contact your agent at RealNet Properties today for the best area expertise around.
Author: RealNet
