Try to ask any real estate expert about the most important factor in buying a property, and he or she would tell you that there are three most important factors which are location, location, location. Such factor is really important regardless if you are purchasing a condo unit or house and lot.
So why is it so important? The answer is simple. You can change anything about the house, you can paint it with any color that you like, put up some fence. But you can never change where the house is built. It’s not a plant on a pot that you can just carry it and transfer to any corner that you like.
Five major considerations:
Location-wise, the primary concerns are:
- Geography
Aside from the geographic location, geography also pertains to the natural features of the place. Some things to consider include important amenities such as grocery stores, shops and restaurants. Schools are another important amenity – even if you don’t plan to have kids, if you want to sell your home this is something many buyers will be on the lookout for. Whether it is a disaster-prone are is another concern to think about.
- Setting
Do you prefer living in a highly urbanized, suburban or rural area? This is another aspect to deal with. There are issues to consider and your lifestyle will greatly influence your choice. However, if you select the settings first, then your lifestyle might be altered dramatically.
- Neighborhood
The neighborhoods that appeal to you will largely be a matter of your choice. It should be the one that has the closest fit to your personality and lifestyle. It is the location that you will feel comfortable especially where you are likely to get along with your neighbors.
- Safety
Safety is a top consideration for most people. A safe neighborhood means you and other people will feel free to walk around, be outdoors and interact with your neighbors. People want to feel safe in their homes and want to live in an area where there’s a little or no crime.
- Cost
Location-related costs such as taxes, utility expenses and association fees may also impact the living quality. When choosing a location, there are several factors you may want to look at. These factors may vary depending on your need and lifestyle, but the most basic consideration are the following:
- Are there good schools around?
- How far is the nearest hospital?
- Are there parks, playgrounds or green spaces?
- Are there any churches or religious structures nearby?
- Is there a grocery at the vicinity?
- Are there any banks nearby?
- Is public transportation available?
- Are the road infrastructures accessible and well-maintained?
- Is the place prone to traffic or flooding?
You need to consider these factors whether you will be living in the said property or you will rent it out to someone else. While choosing the location is largely a matter of preference. Do a research on the neighborhood that you want to live in.
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