Why is location so important in the real estate industry?
The one thing you cannot change about the home is its location. You can buy a horrible house and fix it up, but you can’t buy a horrible location and fix it.
Schools, transportation, amenities are just a few key things home buyers are looking for. If a home buyer is moving with a family they will want a home within a good school district. Having transportation around can be a key component for those buyers who may not have a car. A lot of retired buyers look for places with amenities so they do have to drive far to do the things they love!
Remember, perception is what counts when it comes to determining the quality of your neighbourhood. If you are thinking of ever selling, you have to think about what the overall view is of the areas. Will your future buyers perceive your house to be in a great location?
Many buyers will buy a house specifically because of the location. Maybe it is closer to their work, or in their favourite school district.
Being in a great neighborhood can be extremely beneficial when selling your home.
But, what makes a neighbour a bad neighborhood?
Noise! If you are located near a main highway or a trainstation, it can be very noise and turn buyers away. Being in a location with a high crime rate may also scare buyers away. They want somewhere they will be able to feel safe living. Maybe the view isn't the greatest! Would you rather be looking at a cement wall or a beautiful park? Check the local reports online and in print. Have there been a rash of burglaries? What is the appearance of the houses? Are there bars on doors and windows? Take a drive by at night and have a look and listen.
There are many things to take into consideration when buying a house but remember, you can’t “fix” the location but you can change the house.