Why Location is Important When Buying Real Estate Property

Real estate investment can be a tricky decision unless you are well informed about the tree factors of better profits – Location, Location, and Location.



I often hear people about making decisions of buying an investment property based on the property condition itself, instead of the location. Mark my words; this can be the biggest mistake you can make as an investor. Remember that the condition and the price of any property can be changed, but you can never change its location.

Real estate property location creates desirability; desirability creates demand that further increases its price in the local market.

Its location will determine many things which will further influence a home’s value. These factors include commute times, school choices, quality of life, and the social opportunities. No matter how lucrative deal you get for your dream home, you should never sacrifice location. So, it is always preferred by the investors to adjust your price range in order to find a home in a better neighborhood, then to compromise.

Choosing your investment property location

We know that the location is the most important part that must be considered when considering buying real estate property. The property location will impact your everyday life and your home’s future value. So, how do you know if a location is truly great? We’d like to list down a few things that must be kept in mind in order to find a property with great location.

Geographical Location – The first thing that must be kept in mind when looking for the best real estate property is its geographical location. Consider the locations that are most important to you, such as the climate, job opportunities, proximity to family, etc. If you are going to live in the property for a longer period with family, it should be located with all the amenities nearby, while these amenities can be ignored if you are looking for a property for holiday purposes. So, make your decision wisely.

Safety Concerns – If you are going buy real estate property for your family, it may be the best thing you can think about for the safe living. You will find that houses in the high crime areas are much less expensive. So, don’t just go with the price factor as you may need to sell the house after being irritated with the criminal activities around you. Moreover, when it is time to sell, you will have a much harder time finding a buyer.

Urban vs. Suburb vs. Rural – As mentioned in the point one, you may want to select the property location wisely if you are going to live there for a longer period. Its price will be impacted with the community’s walk-ability, education options, closeness to shopping, entertainment, etc. Also, it can have a great impact on its size and a neighborhood’s level of peace and quiet.

School Districts – You may not have children at present, but it doesn’t mean that you are not going to have them in the future. You will get married to your loved one and then plan for the kids one day. So, why not to take care of their education in present only? The quality of a school district can impact future home value. Living in the areas with good schools can be costlier than those with no better education facilities. Think long before buying real estate property.

Originally Published at InvestmentRealEstate.biz