When it comes to buying a property, you may hear real estate agents say, “location, location, location.” The term has been used since for many years to describe the importance of choosing a property that is a great long-term investment. But how do you choose the best property investment?
Here are some tips to help you make an informed decision.
Consider the Safety of the Neighborhood
One of the most important characteristics to look for when home shopping is the safety of the neighborhood. You want to feel safe in your own home and have the freedom to walk about and interact with neighbors. At the same time, you also want to enjoy some privacy.
Look for Good Schools
If you have a family, good schools are an essential consideration. The value of your home and the surrounding homes will increase or decrease according to the school district. Additionally, young families are consistently looking for first or second homes and will take the location into consideration. If you live in a good school location, your house may be easier to sell in the future.
Check for Transportation Access
If you need to be near public transit or quick access to freeways, you should look for a location that meets those needs. Living in a major city may make it even more important to have easy access to transportation. Keep in mind that being close to those amenities may increase the cost of your home.
Consider Water Access and Panoramic Views
If you want easy water access or panoramic views of the ocean or lake, choosing a home near or with close access to water can increase your investment in the future.
Look for Desirable Amenities
Being close to popular shops, restaurants, parks, and other places can be a desirable characteristic for some homebuyers. The closer you get to the hub of downtown, the more desirable the location will be. However, compromises may include a smaller home, noise, and no or a small outdoor area.
Avoid Bad Neighborhood Characteristics
Be sure to look for bad neighborhood characteristics when you’re looking at locations for your new home. For example, if a home faces the freeway or is near a busy intersection, it’s probably a bad location. Noise from a nearby airport or fire station can also ruin the location of a beautiful home that fits your needs. Similarly, schools that experience traffic from school buses, noise from kids going to and from school, or run-down homes in the neighborhood can ruin the ambiance of a perfect neighborhood.
Ultimately, location, location, location is an important consideration when purchasing a home. However, your happiness means more than thinking about a good investment opportunity, especially if you plan to be there for many years. Remember to take into account the safety of the neighborhood, the quality of schools, transportation access, water access, and desirable amenities when making your decision. With these tips in mind, you can find the best property investment that meets your needs and your budget.