Location is one of the most important factors which can’t be ignored in real estate investment. Many people ignore the location factor while purchasing property, which is one of the biggest mistakes. You can change the size, and price of the home, but you can’t change its location. So make sure you are investing in a good location. Here we are going to discuss the importance of location in real estate marketing with Nima Bendavood.
The location creates demand and demand increases the price. You can change the construction of your home later, but you can’t change the location of your home later. If you keep location in mind then your investment can appreciate more with the area, so do not neglect the location while buying your dream home. Many people ignore this factor, which may be a common mistake.
Consider the following items when looking to buy a property:
Schools, the Important Factor in Location
Distance of school from home is one of the important factors. Most people want to buy a home with close proximity to highly rated schools. It is easier for kids and parents too. If school is closer to your home, then it will also reduce the transportion expenses. The nearest school will also save travel time says Nima Bendavood.
The facility of easy transportation is also an important factor. Everyone wants to save their travel time. It can be possible only if there is a good transportation facility from your home. Whether you have your car, public transportation can always be a good backup. It would be a good idea if Subway/Metro, bus, or other public transportation services are in close proximity to your home.
Grocery stores, shopping, and restaurants are some basic and important amenities. 70% of the buyer pool prefers to have these amenities within their walking distance. Especially grocery store within walking distance to provide basic food and family items. However more recently being close to gyms, boutique stores, etc. has been more popular as well by millennials.
Location Also Affects the Values
The location has a vital impact on the home value. If a park, Metro station, bus stand, shopping mall, or any other public facilities are in close proximity to your home, then the value of your home will increase. If you want to rent out your home, then it will be easier to rent out if your home is in a good location. If your home is farther away from city services, finding a tenant could prove to be a challenge.
If you are buying a home, don’t neglect the location of your home. This is the most important factor in real estate according to Nima Bendavood. If your home is far away from shops, grocery stores, schools, etc. then it can limit the value appreciate if your home. But also remember with all these amenities, property prices will be higher. Make a priority list of your requirement and buy the property/home according to that. This will also help you to purchase your home within your comfortable budget.