Three Most Important Factors In Buying A Home
Three Most Important Factors In Buying A Home
If you are in the market for buying or selling a property, chances are you have heard someone say ”location, location, location” at least once. It is also known that the three most important factors in buying a home is location, location, location. This is an age old mantra used by real estate agents around the world to stress the importance of how important a location is while buying or selling a property. It is considered to be the number one rule in real estate but still not one that many people value. The phrase repeats the word location three times in order to remind anyone who is prone to overlook the importance of it.
You can buy the best, most spacious home, at a great price but if the location of it is not desirable, you are most probably worse off compared to a smaller house in a better location. You can invest and remodel your home all you want, but you cannot relocate it.
HOMES WITH A GREAT VIEW
A property that provides a panoramic view of the city skyline or one that provides an ocean view will sell for top dollar. Homes with mountain views and greenbelts are also desirable and thus priced higher.
Close to Public Transportation and Downtown – The daily commute to and from work can be daunting and many people prefer to be located in areas with good transportation facilities so that they can reduce their daily travel time and cost. Homes near airports are always preferred by frequent flyers.
Close to Downtown – If you are an avid shopper or a foodie, you would most likely prefer to live close to the city’s shopping and food areas. Homes near walking distance of downtown and city centers are your best bet in such a situation.
LOCATIONS TO AVOID WHEN BUYING PROPERTY
Just like properties in a desirable area will be valued for more, so will properties in a less-desirable area be valued for less. The following areas can devalue a property:
Close to Commercial or Industrial Areas – The noise factor and the potential of increased loiterig bring the value down of properties in such locations.
Close to Freeways, Flight Paths and Railway Tracks – The significantly greater number of decibels in these areas is not worth the investment.
Areas with Bad Economy – Locations with bad economy will probably have a high crime rate and, therefore, a greater chance of decreased value for money over time.
For more information on how to get the most for your dollar in regards to purchasing a home, contact an experienced real estate agent that can show you the different neighborhoods and a location that best suits your needs.
