Even among those uninterested in real estate, the importance of location is universally known. Location plays a major part in the housing market, and is often the deciding factor for home buyers, who often look to a variety of cues to see if the property is well placed:
The first thing to look out for is the neighbourhood. Different communities offer varying degrees of value, but livability is more important. A recent post from Investopedia explains:
The neighbourhoods that appeal to you will largely be a matter of personal choice. However, a truly great neighbourhood will have a few key factors: accessibility, appearance and amenities. Your neighbourhood may also dictate the size of the lot on which your house is built.
In terms of accessibility, you should look for a neighbourhood that is situated near your city’s major routes and that has more than one point of entry. Commuting to and from work is a big part of many people’s day, so a house with easy access will be more desirable than one that is tucked away and can only be accessed by one route.
The appearance of the neighbourhood is also important. Large trees, landscaping and nearby green or community spaces tend to be desirable. You can also judge the popularity of the neighbourhood based on how long homes in that area tend to stay on the market; if turnover is quick, you’re not the only one who thinks this is a desirable place to live. Via investopedia.com
In the end, a “great” neighbourhood is subjective, and each buyer will have their own preferences. But the 3 “A’s” show that any neighbourhood excelling in those fields is worth looking at.
In particular, amenities are crucial to the quality of life in any location. Being at the heart of activity is a desirable thing:
You’re at the centre of everything
Buyers show strong preferences for suburbs with great retail, good schools and public transport. If a suburb has these, it will typically see more people looking at property and prices increase more than suburbs that are lacking one or more of these,” says Nerida. h/t realestate.com.au
While there are some buyers who prefer more isolated areas, most families find great value in amenities. If you’re currently looking into homes for sale in Fort McMurray, our A-Team home search tool displays amenities around a home on a map, giving them a “walkability score.” It’s handy for figuring out how “connected” a property is before getting too invested.
Lastly is the safety of the location. A recent post from Uplifting Blog discusses why safety must be taken into consideration:
For homeowners, safety will continue to remain as a top priority.
Those who live in areas with roughness and higher crime rates may find it harder to resell their home. Other considerations to be made regarding an unsafe area is the high cost contributed to theft losses, the feeling of constant fear and peril, and the necessary installation of security systems.
When seeking out prospective locations, research crime statistics of the surrounding areas. Little to no incidence of crime is a good indicator that your new home is located in a safe environment that will allow your family to grow in a quality neighbourhood. Investing in a new home located in a safe area will allow you to maximize its value and investment should you decide to sell it. read more at upliftingblog.com
This can be more subjective depending on how you get your info. A good way is to ask your agent for statistics on the area. As buying specialists, they’re able to provide this information (and much more).