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Shuchi Singh | 20 Feb 2023

Buying A Home? Know What Makes Location So Important In Real Estate

Buying A Home? Know What Makes Location So Important In Real Estate

Choosing the right location is the toughest part of making a real estate investment. Buying a home in a good location has consequences for two major areas: quality of life and add to the value of your home. 
The right location is what translates into profitability for real estate investment. The location creates the desire for buying a property and the desire, then, generates demand which causes a price appreciation.
Many a time a buyer makes a decision of owning a house based on the house that they are going purchase rather than the area that it is located in. Once the purchase is made, the condition of a house can change, but the location of a house will never change. Therefore, choosing a “wrong location” can cost the buyer a lot. So it is important that the buyers end up choosing the “right location” that positively impacts the value of your investment. Let us have a look at the below-listed points while choosing a location for your house.

1. Consider The Geographic Factors

When first looking at a location, you need to consider those things that suit you the best, particularly when you have long-term plans with your property. The climate of the area, average home values, distance from the neighbouring cities, infrastructure facilities are some of the factors you need to take into account. Also, make sure the new place where you choose to get settled in does not have a history of crime, especially burglary. So, make your decision wisely.

2. Proximity To Schools

Being in a good school district is an important consideration, even if you don’t have any children. The proximity to schools can impact future home value. Fact is, home buyers with children always prefer buying a home in an area with really good schools. The better the school district, the higher the values of the surrounding homes can be and often will pay a premium for a home that is located near a good school. Therefore, the better the school district, the higher the values of the surrounding homes can be.

3. Amenities That Meet Your Needs

One of the biggest attraction, while you are looking for a new apartment, is the presence of multiple amenities under one roof. Therefore, make sure you have checked all the amenities that are offered by the location. Check if the electricity board gives regular electricity supply without power cuts or the civic body give round the clock water supply in your area. Also, look for recreational, cultural, health care, and shopping facilities, etc in your area because buying a property in a good location with ordinary amenities is similar to bearing loss at large.

4. Ease of Connectivity

One of the most important qualities of a good residential project is excellent connectivity. Most people do not want to endure long commutes to office, schools, colleges, market and hospitals. Therefore, it is always beneficial to choose the location that shortens travel time is more desirable.

5. Final Thoughts

When you begin your home search, always keep in mind that there is no such thing as an absolutely perfect place to live. So, prepare your list of what is most important to you or what you must have and use that list to decide your ideal place to live while maximizing the value of your investment.

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