Location is obviously important when considering where to purchase a home, but is it still the most important thing to consider? The answer is yes. Here’s why.
Property features. While a home can be remodeled, the major features of a home’s location cannot be changed. If the home is next to train tracks or on a busy street, homeowners are assured of train and traffic noise. A house built on a hill with a steep driveway probably isn’t the right spot for a homeowner with small children who want to play outside on the driveway.
Schools. A home located in an excellent school district will fetch far more money than a similar home in a troubled school zone. While the quality of school districts can change over time, it’s vitally important for buyers to check out the current situation. They will pay a premium for a quality school system.
Neighborhoods. While neighborhoods also see their fortunes change, it’s important for prospective buyers to assess the current and near-future trend of the neighborhood in which they are looking to buy. Homes in so-called “good” neighborhoods, with well-kept yards and low-crime rates, demand higher prices than those in areas where homes are not well-kept. Walk the area, talk to neighbors, talk to your agent, and check the recent sales history in the area. Is there evidence of home remodeling and repair? If so, you might find a bargain on a home that will appreciate rapidly because the surrounding neighborhood is being revitalized.
Transportation. Is the home you’re looking at have easy access to major crossroads and highways? Is the area serviced by a major airport. Is there bus service for seniors? Can you get to a major city via mass transit? The most desirable homes are located within a short drive of major transportation hubs.
Amenities. Don’t discount the importance of having a good grocery store near a home. Prospective buyers want access to quality shopping and entertainment venues. The farther away those amenities are, the lower the values of homes.