In a real estate rumble, numerous homebuyers will pounce on the market and virtually bid on any house listed on it. However, at the end of this rumble, only homebuyers who select the house with a good locale will be holding the most valuable property. Buying a house in a good location makes it quite easy to sell it and for a good price.
There’s a popular saying amongst real estate agents that “A great neighborhood sells a home”. Are you planning to build a house? Or you want to buy a house to start your home, then you must have been puzzled by the question “what’s more important, the house or where it’s located?”. The answer is Location. Where we build our home or buy a house is crucial to our livelihood and as such we ought to take great care in the selection of where we build or buy a house. In today’s article, I’ll enlighten you on the factors that make a particular location good enough to build or buy a house.
How to determine a good location for your home
There are certain features to look out for when selecting a good location to build your house or buy a house. These features can greatly influence the overall value of your property, it can also determine the rate at which the value of the property will depreciate over time. Before a location can be considered as a good to build or buy a house, it must have the following:
- Good Neighborhood
When you arrive at the proposed site of your new house, the first feature that will appeal to you on your way there will be its surrounding neighborhood. It can be said that neighborhood appeal is a personal appeal. However, a good neighborhood has the following key factors in common: accessibility, amenities, and appearance. Your neighborhood becomes your immediate community, hence, it is essential to make the right choice.
- Low Crime Rate
When we talk about a good location, we also mean “safe location”, no one wants to live in an unsafe neighborhood. Locations with very low crime rates have higher property value than locations with higher crime rates. Before a land or house, use the internet to check for the crime rates in the neighborhood, it’ll help you understand how safe the neighborhood is.
- Availability of good schools
Homebuyers looking to start a family will factor the availability of a good school in their decision. In addition, the availability of good schools in your neighborhood increases the value of your home. Therefore, even if you don’t have kids, buying a house in a good location with a good school is a good choice.
Another important factor that determines if a location is good enough to live in is easy access to fundamental amenities. Imagine having to drive 45 minutes just to pick up a bottle of milk. Availability of grocery shops, salons, gyms, restaurants, workshops, etc. makes a location more desirable.
- Future Appreciation potential
The value of real estate is never fixed. It can appreciate or depreciate depending on different factors. There are neighborhoods seen as undesirable now, but they possess good future prospects, it is possible that it’s value will increase over time. More so, there are neighborhoods that are predicted to undergo a decline in appreciation overtime. A good neighborhood has a good future appreciation potential. It is advisable to buy a house in a good location with a good future perspective, so that when you decide to sell your house, its value would have increased greatly.
Many factors can affect the value of a house like its curb appeal, interior decoration, and conditions of the house. These factors can be improved and conditions changed if you so desire. However, the location of the house cannot be changed. Hence, it is apparent to make a better decision when it comes to the location of your house.