Location, Location, Location, 4 Reasons Why it’s Essential
Maybe the most overused phrase in Real Estate “Location, Location, Location”. Maybe also the most meaningful. You can change nearly everything about a home, except its location, and I always advise my clients of this. As a matter of fact, I’m currently working with clients who were adamant about location and I fully admire that. It took a while but they found what they were looking for and more importantly, they found it where they wanted to be. The value of your location is both financial and emotional so choose wisely. ~Bill
By Kara Masterson
Buyers are so hyper-focused on the home that they often cast aside surroundings. “Surroundings” do not equal trees, fences or landscape. The home’s surroundings are the houses around the home and the residents occupying them. Surroundings also include the neighborhood, the passersby and the city. Surroundings are the home’s location and it bears equal importance. Here’s why location is essential to any future real estate decision.
Safety
Is the perfect home near a busy driving area consisting of drug houses, screaming kids and problematic neighbors? If so, stop reading; plenty of communities exist for you. For the rest of us, this isn’t an ideal neighborhood. Pay extra for a safer neighborhood. They’re packed with stores, shops, restaurants, and banks nearby; a rarely noisy community is surely waiting for you. Along with research, visit the location at night for accurate answers.
Distance
The distance from point A to point B is so important. A long commute burns more gas and wastes more time than necessary. Therefore, learn the miles and minutes it takes to travel from the home to the following: work, school, store, hospitals and favorite hangouts. Buyers without cars must live in communities with public transportation access. A community containing local amenities close by is valuable to buyers. Besides, no one will travel great distances for any destination.
The Best Schools
Distance isn’t the only factor in the best school search. The reputation, the quality and the district are additional factors in finding a good school. Homes surrounding good schools are in high demand. Determine good schools by searching online reviews of schools and reading two or three sites. Since good and bad reviews naturally exist, develop a consensus. Some real estate listings include online reviews of surrounding schools. Single or married, family or not, a good school system is important for your home’s value.
Monetary Value
When buyers buy a home, they purchase the location too. A home priced in a good neighborhood makes it more valuable than one in a poor neighborhood. In addition to the home, they purchase a safe community, nearby local amenities, and the personalities in surrounding houses. Because neighborhoods rarely change, the home remains lucrative to future buyers at sale.
Forgoing location and surroundings means living in the perfect house and fearing the outside. If you can’t enjoy the surroundings, no perfect home is worth the price tag. Location, location, location–real estate companies may stress this a lot. Just make sure to seek professional help and find the best possible neighborhood for you.
This post was originally published on RISMedia’s blog, Housecall. Check the blog daily for top real estate tips and trends. Reprinted with permission from RISMedia. ©2016. All rights reserved.
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Our Buyer’s FAQ page has 9 of the most frequently asked questions from Home Buyers, along with 10 additional resources for Home Buyers at the bottom of the page.
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Thinking of Selling your home? First check out our 9 FAQs for Sellers. Then read on, there are 9 additional resources for Home Sellers at the bottom of the page.
Home Buyer’s Frequently Asked Questions
Home Seller’s Frequently Asked Questions
