Importance of Location in Real Estate


Posted on 27th August 2018 Author: Planet Homes



While making a property purchase, primary decisions are based on the look of the property. Very few buyers realize the fact that the location of the property is the most crucial part needed to be taken under consideration. What most buyers don’t understand is that the look of the property can be changed with the interiors but the location around it will stay the same. The importance of location has always been underestimated while buying a property. Let’s look at some vital factors to be considered while choosing an appropriate location for the property before purchase.

Valuation of Property

Property valuation differs according to the locality and the amenities available around. For e.g. a property with good amenities like malls, good schools, and good connectivity to the prime locations of the city will cost more than a property that is far away from these amenities.

The Neighborhood

Every neighborhood exhibits different characteristics. The buyer needs to identify what kind of neighborhood is suitable for them before locking on the property. The buyer also needs to analyze if the property is near from their workplace or their kid’s school. Characteristics of a good neighborhood are cleanliness, proximity of amenities at an arm’s distance and sometimes the communities that predominate the surroundings.

Safety Concern

Safety is the main concern for any individual. Especially in the house they are planning to stay with their family. If the property is at a location that is considered unsafe or is at an isolated place, it is not a very bright idea to buy your property in that locality. Also, it will be struggling to resell such properties & it might not give good return on investment.

Urban v/s Rural

There is a huge difference between urban lifestyle and rural lifestyle. While buying a house, it is important to know what kind of lifestyle is suitable for you. Availability of healthcare facilities, malls, schools & universities differ in urban and rural areas.

 


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