You probably heard that the three main factors to consider when purchasing a property are location, location and location. There are plausible reasons why this is so. The location of a property is something you cannot change. On the other hand, the look and size, layout and yard are all things you can change if you want to. The location determines your family’s safety, happiness and financial stability, and that’s why it matters the most – even more than the price. Keep reading to learn more about why location is key in real estate.
First, the location dictates your transportation options, the roads and the overall connectivity to central areas. Second, it is essential for safety – a good location implies low crime rates. Moreover, its infrastructure also affects your lifestyle. Additionally, the proximity of the main facilities you need, including schools and work, is crucial, making your life easier or harder. Additionally, you should observe nearby amenities and facilities when buying a property. People need diverse things, so base your decision on the amenities that matter to you personally.
Table of Contents
1. Transportation, roads and connectivity
One of the first characteristics of a suitable location is its connectivity to nearby towns, cities and facilities. A well-connected property has a bus, train, or metro stop nearby. The further away the property is from the transportation hubs, the lower the property’s value. However, if the only way to get from the location is by car, then be mindful of the proximity of the main roads and their connection. The proximity of major roads and highways is quintessential in this case. When choosing a property and location where you will live, you need to be comfortable getting to places reasonably easily and quickly. Otherwise, you will save time commuting and taking kids to various practices.
Next, you should observe the crime rate and overall safety of the location. This is essential for your peace of mind. You and your family should feel safe where you live. This is the top priority when evaluating a location. That’s why hiring a local real estate agent is best to help you find an ideal crime-free location. For example, if you’re looking into buying a property in Orange, NSW, you should hire local real estate agents from Orange, NSW, to help you find your dream home. This is one of the best strategies to find an excellent home for a reasonable price in a shorter period. Experienced real estate agents know how to avoid rookie mistakes in real estate.
What we should look at then is the infrastructure of the location. A good location is the one that is developing. So, if new roads, bridges, commercial centres, and metro stations are being built or remodelled, this is a good sign. It tells you that the location interests people, so improvements and expansions are happening. Another good thing about buying a property in such a location is that its value and price will only increase over time. You should learn as much as possible about the property regarding future plans. You are on the right track if there are plans for progress and expansion. You can even consider starting your own business n that location – if you do proper market research and choose something that the market needs, it will surely boom.
4. Schools and work
Among the top priorities, you will look out for when browsing for a location for your home is your work and if you have kids, their preschool or school. Nowadays, some jobs can be done remotely or from home, so you should consider that. You must be aware that if your work or kids’ schools are too far away from your home, you will all spend more time commuting. This is something you should consider in terms of whether you are ready to spend so much time commuting. You can quickly check a potential property’s distance from the main things you need by using Google Maps. Besides the physical distance, you should also count traffic congestion.
5. Amenities and facilities
Lastly, what you should consider with a location are its amenities and facilities. For example, if you are into sports and training, check whether there are such facilities. For women, things such as hair, nail and cosmetic salons matter. Also, the kids should also have several extracurricular options.
As you can see, the location of a property you intend to buy matters for several plausible reasons, both in case you plan to live there for life or sell it later. In the case of the latter scenario, you can even earn a considerable profit.