When you are buying a home, they say that location is everything. Many people who are making this important investment wonder how accurate that statement is. The truth is that location truly is more important than anything else. Here are just a few of the reasons why location is such an important factor.
Homes can be Changed, but not Moved
You can take a home and turn it into something else. You can move walls, renovate kitchens and even add additions. However, it’s not usually feasible to take a home and move it to a better location. If the home is in a bad part of town or too far from commercial centers, then it’s not going to work for you in the long-term and it will not appeal to other buyers.
Schools Matter to Everyone
Even if you don’t have children, the school district your home is in plays a role in the value of your property. When you try to sell your home later, you don’t want to be saddled with a lower price because families are avoiding your school district.
Growing, or Shrinking?
Any given town can be on the rise or the decline. When a town is growing with more people moving in, then home values are likely to rise. However, property values can start to plummet when people are steadily leaving the area. Use census report information to determine if a town is on the rise or the decline before making any final decisions.
What’s the Commute?
Most people aren’t necessarily trying to find a home right next to their job, but they also don’t want to spend hours in the car every day. This is one of the reasons why home values tend to lower as you move away from metropolitan centers. Even if you work from home and don’t care about the proximity to the city, future buyers are going to care about that. Look for a home that offers a decent commute to the nearest city to protect your home values in the long run.
The Incredible Views
In addition to the general location, people also care about the views. Homes with a stunning view of the mountains, ocean or even a golf course will hold their value better than homes that offer nothing more than a street level view of an alley.
After considering the commute to nearby cities, look at the drive for shopping and entertainment. Does the city have shopping plazas, grocery stores and a movie theater? Is there recreation nearby like parks and waterways? You will enjoy having access to these amenities, and it will make your home more attractive to buyers when you decide to move.
For many people, their home is their castle. It is where they can rest, relax and feel protected from the harsh world. This isn’t going to be the case if they buy a home in a bad neighborhood with high crime. Buyers want to trust their neighbors rather than worrying that their neighbors are casing the house. Check local crime reports to make sure you are buying in a safe neighborhood.
When it’s time to invest in a home, location truly is everything. It’s by far the most important feature to look at. Once you have found a good town, then you can start viewing different neighborhoods and looking at individual houses. However, make sure that you are buying in a good location to protect your home value today and ensure that it will increase tomorrow.
Benjamin Sawyer was a subtenant in NYC for 10 long years. Finally he bought a house in peaceful and quiet area, but before he did that, he spent a lot of time finding a dream house for him and his family. In the meantime, he learned a lot as a first time home buyer, and he share his tips with us in this article.