Location Education In Real Estate
Whether you are looking for your first home or you have a few under your portfolio, you need to consider the three most important things – location, location, and more location. Due to this, you must go to “location school” so that you understand the most fundamental aspect of any real estate purchase.
A large percentage of the things that add value to a home all point back to the location as the origin. A great home in a poor location will never sell more than an average home in a great location. A stinker of a property in a great location will always find buyers.
Let us take a look at what the general rule about location represents in the value of a home perspective. Here are a few location elements that you need to consider when making a purchase.
The neighborhood adds a lot of value to the value of the home. The homes in the location ought to be properly built and in good condition. If more than half of the homes are in a state of disrepair, run. Additionally, the neighborhood in which the potential home is located ought to be safe. It shouldn’t be a haven for convicts and felons. You can use the local detective network to know the crime statistics of the area.
Having a great home that isn’t accessible won’t just make the cut. Make sure the home is near a transport network that is reliable and fast. Other street factors include noise influence. If you stick to your gut feeling and acquire this property, you might end up having a huge problem selling the property down the road.
You might get the perfect neighborhood and the right street, but you might not have access to the amenities. If the home is a walking distance from the mall, a health facility, restaurants and more amenities, then you have a winner. However, such homes will need you to fork out some more money to acquire the property.
You might be looking t=for the ideal “home away from home” in the middle of nowhere. Well, others might not desire to live that far, making it hard to attract the right amenities.
Use caution when considering the location factor. Location is a big factor when you decide to purchase your home. Consider all the elements before you take out the checkbook.