The real estate starts with 3 words: Location, Location, Location. You've certainly heard the phrase enough and may wonder what it means.
It means identical homes can increase or decrease in value due to location. The location ensures a good resale value. It's the number one rule in real estate, and it's often the most overlooked rule.
You can buy the right home in the wrong location. You can change the structure, remodel it or decorate it but you cannot move it. It's attached to the land.
The best locations are those in prime spots such as:
â€¢Â Close to Outdoor Recreation and Nature
Homes near the lakes or parks will hold their value because of the location, providing outdoor space, recreation and better air quality. People want to be near water or visually appealing settings.Â
â€¢Â Homes with a View
Some homes sell quickly and a lot of money because they provide panoramic views of the city, greenery or lake, This is enough to substantiate a good location. No vis-a-vis is also an important advantage.Â
â€¢Â Near Entertainment and Shopping
In many cities, you will find homes that are located within walking distance of movie theaters, restaurants and boutiques are more expensive than those located further outside of town. Many people would rather not drive if they can walk to nightlife.Â
â€¢Â Within Top-Rated School DistrictsÂ
Home buyers with children are concerned about their children's education and often will pay more for a home that is located in a highly desirable school.Â
â€¢Â Near Public Transportation, Health Care and Jobs
Most people do not want to endure long commutes to work, the doctor's office nor the airport. They prefer to be located close to emergency services and conveniences, so naturally homes in locations that shorten travel time are more desirable.