The location of your home can impact its value in a big way. For example, houses that are close to highways or other busy roads may not be as desirable as those that are closer to a train station or bus stop.
Other things that matter include the proximity to grocery stores, bookstores, restaurants, and other amenities. These are important for many people, especially families with children.
1. It’s a Good Investment
One of the most important things to consider when choosing a home is its location. The reason for this is that the location of your house will have a major impact on its value and future resale potential. If you choose a house in a good neighborhood, it will likely appreciate more quickly than if you buy a house in an undesirable area.
Another thing to consider is how close your home is to amenities and conveniences. This can include things like grocery stores, restaurants, public transportation stations, and other places that people frequent. If you can easily get to these things, it will make your life much easier.
Other things to consider include whether or not you want to live in an urban or suburban area. Some people prefer to live in the city, while others like to have a more rural lifestyle. Ultimately, it’s up to you to decide what is most important for your family.
2. It’s a Good Commute
Many real estate experts will tell you that the location of a home is one of the most important factors in its value. The more desirable a neighborhood is, the more money it will usually go for. People are willing to pay more for a home that is close to commercial districts, within walking distance of the beach or located near a city’s best parks and restaurants.
If you want to save time and stress, it makes sense to choose a home that is within a reasonable commute distance from your work. Countless studies have shown that long commutes can negatively impact both your productivity and your happiness at work.
Try to choose a neighborhood with easy access to roads, public transit or even just bike lanes. If you are able to use your time effectively, you can often make up for the time lost to traffic delays on the way to and from work. Use this time to get ahead on personal errands, such as shopping for groceries or catching up on emails from family and friends (as long as you are using hands-free technology if you’re driving). You could also use the commute to learn, such as by listening to podcasts or taking a language course.
3. It’s a Good Place to Live
You’ll hear this mantra over and over again, but there’s a lot of truth behind it. When you’re looking for a home, location is one of the most important things to consider. You can change your house’s paint color, garage, or even knock down a wall, but you can’t move the neighborhood or community.
If you want to spend your time shopping, commuting, or enjoying local activities, the location of your home is critical. The proximity to restaurants, coffee shops, and gyms will all make a difference in your day-to-day life. It can also be helpful to discover how close you are to local parks, beaches, and entertainment options.
If you have children, the quality of schools in the area will also factor into your decision making process. Schools are directly tied to property values and prospective buyers will often be willing to pay more for a home in a desirable school district. Likewise, crime rates can have an effect on how desirable a particular area is. You can do some online research or talk to local neighbors to learn more about this.
4. It’s a Good Place to Spend Time
When looking at a location it is important to remember that you will be living there – and it has to be a good place for you. While it is difficult to objectively measure this, you can take a look at the local culture and see how it appeals to you. It is also a good idea to visit the area during different seasons. If you are considering a home in winter, for example, it’s important to see how people cope with snow. How quickly they shovel their walks, and how often they do it, can be a good indication of how they treat their neighbors.
You should also consider what amenities are in the area and how close you want them to be to your home. For example, many people like to be near restaurants, grocery stores, dry cleaners and other businesses. Others may prefer to be in close proximity to parks or other outdoor spaces. Make a list of the things you want to be close to and ensure they are located near any homes you’re considering buying.
5. It’s a Good Place to Sell
Some people buy homes with resale in mind, making size and location important considerations. They may want a larger home because their children have outgrown their shared bedroom or they want to have room for a pool or garden. They also might want to live in a desirable neighborhood because it will be easier to sell the house in the future.
It’s true that “location, location, location” is a real estate mantra for a reason. While you can change many aspects of your home through renovation and upgrades, the location is one thing that will remain static. That means it will have a big impact on your lifestyle and how easy it is to sell in the future.
You should also consider whether a location will have any future growth and development that could impact your property value. For example, a property located right on a busy road or near a commercial development might be convenient now but, if the area continues to grow, it might become louder and more crowded. It’s also worth considering if the area has good schools because that will be a selling point for families.