Everybody knows the most important part of buying a home is the location. Those homes that are in a desirable neighborhood get way more money than those in bad location. You cannot pick up your home and move it so location means everything.
If a recent crime spree doesn’t seem to be letting up, you can’t just move because of crime statistics. When you sign a 30 year mortgage, you are locked in for a long time. The location of your new home will ensure that you are making a good long-term investment. If you decide to sell in the future, it is much easier to find a buyer. Even if a home isn’t in the best condition, you still will get a better price than if it was in a bad neighborhood. The location of the home not only dictates today’s values, but also the future’s.
If you move into a home and the color on the walls doesn’t work, you paint them. If the back patio is too small, you extend it. However, if the location of the home doesn’t work, it’s a great deal harder to pick up and move again. You have to put the home on the market, find the right buyers and try to find another home. The location plays an important part of the house hunting process.
What Makes A Good neighborhood?
For some, it is the feeling that they are safe. People want to be comfortable but also safe. Crime stats are one of the most important things when considering a neighborhood. The more affluent areas usually have less crime, and that is why most people want to live there. While crime can happen anywhere, it is more likely in lower class neighborhoods.
If you are looking to sell in the future, the neighborhood can dictate price. If there are safety concerns and it is a higher than average crime area, you are going to have a hard time selling and an even harder time recouping your investment. People want their children to be able to play freely outdoors. They want to ensure that they can ride their bikes, take a walk and enjoy life. Adults want to get involved in community events and meet their neighbors. In a crime free area, these things are possible. It is important to research neighborhoods before buying a home, especially, if you don’t know the area that well.
The View or Proximity Counts
While not all cities have a spectacular view, it may be a significant factor. Does the home face a factory, brick wall or another odd sight? The view of a home can increase or decrease its value. The location aspects of the home can physically determine the price. In the future, you may have a hard time selling a home in which the master bedroom backs up to the local factory. Always consider where the home is sitting or what it is sitting next too. Is the home near a train station, freeway, airport or other noisy location? Homes near these areas are often hard to re-sell. A home is a haven and it needs to be peaceful and quiet, and living near some of these things is anything but quiet.
Look for a space that has beautiful landscaping and is near water. Panoramic views are always nice, and these perks will help raise the price of the home. Nobody wants a home that looks straight into their neighbors windows, it lacks privacy. Even if you are willing to live with it, if you try to sell, it may be hard to sell that aspect to someone else.
The Quality School District Makes a Big Difference
While most people think that the school district is only important to those who have kids, it affects every buyer and seller. Schools in a good district allow a buyer to maximize their investment. Young families are highly desirable in the real estate market. If you are in a neighborhood that is mostly elderly, it won’t appeal to younger folks. The closer the home is to a good school district, the better the chances are of getting a good value for the home. There are websites that allow a person to check the schools ratings and this should be done before considering a home.
Public transport and Local Amenities
Being close to a public transportation system is important for most. People need to get on and off the subway, rail or freeway easily. While most don’t want the noise from these locations, they like the convenience. Also, the closer you are to the city, the better the neighborhood for the most part. People want to be close to banks, shopping centers and gyms and being “in-town” seems to work much better than living in the suburbs. Location is everything when buying or selling a home.
You probably think about these factors when you are buying a house, but you never know how long you will be in that house. You want it to be great not only for you, but also for the future tenants in case you ever decide to sell. Do yourself a favor now and invest in something that will always have value.