The Importance of a Good Location in Real Estate Investment
Post by : favouritehomes
Just like any real estate agent will tell you, location is key to buying a property. The location of your home will determine your family’s safety, happiness as well as financial future. While the price matters too when you are buying a property, location is key to the profitability of your investment, and hence, more significant.
Some of the features to look for in the location of your new home include the type of neighbourhood and proximity to important facilities and amenities such as transport hubs, good road networks, shopping centres, hospitals, etc. Keep in mind that you can always change the look of your house to your standards, but you can’t change its location, once you have bought it. Here’s a look at some of the features that make a good location for your real estate investment:
A good location should be close to public transport hubs such as bus stands, metro or train stations. The further your property is from the mass transit hub, the lower the value of your property. In certain localities where there is no other option but to commute by car, then easy access to major roads and highways make good locations for buying homes.
Soaring crime rates in most cities have made it necessary to look for locations with safe neighbourhoods. After all, you wouldn’t want to be worrying about your children when they walk back home unaccompanied from the bus stop in the evenings. Safety is another major parameter characterizing a good location.
When investing in real estate that is located close to areas with major upcoming infrastructural projects such as roads, bridges, metro stations, or commercial centres, it’s bound to garner greater interest. This is because the property in such localities will only increase in value over the coming years.
Facilities and Amenities
Homes located in areas with easy access to social infrastructures such as good educational institutions, hospitals, shopping centres, cinemas and malls have greater residential values. Easy access to key office or business centres also ensures better profits for homes bought in such locations.
When buying real estate, do intensive homework on its location first.