Why location matters when buying a home

Keep some important things in mind when you embark on a home searchImage Credit: Supplied

The old cliché “Location, location, location” is the most important factor to consider when searching for a home, and it is highlighted by real estate agents when promoting properties.

Normally, buyers think about their homes in terms of number of rooms, size, garden, terrace, view, parking space and other considerations. Seasoned buyers advise that all these become insignificant in the long run if the location is wrong.

They say location matters in terms of having a great neighbourhood, and proximity to school, work, business districts, public transport, major road networks, entertainment areas, shopping malls, hospitals and dining establishments. Create a list of your requirements for you to easily identify the right place that will meet your needs.

Also, a large part of the location is linked to your lifestyle. For instance, if you like to have fun, go out and dine out more often, a home near a beach or near a lifestyle hub which features retail, entertainment and dining offerings would be appropriate. In contrast, if you prefer peace and quiet, your quality of life may be affected if you live in a touristy area or a business district.

It is important to choose your neighbourhood well. Check if it is safe both during daytime and nighttime. Check the kind of noise and activity it has. Is it close to a hospital, airport, freeway or school? Frequent noise may get inconvenient in the long run. Drive through the potential place at various times of the day to get an idea about traffic, your commute time to and from work and children’s school. As your children’s academic and extra-curricular activities increase, you may find it difficult to pursue long commutes. See everything for yourself; do not just rely on online search.

Do not forget to choose a location that has a high resale value. Real estate advisors recommend buying a not-so-great house in the best location as you can always fix it. Keep in mind to pick a great neighbourhood with good amenities and facilities, and a huge appeal among buyers and renters alike.

Handy Hints:

* Drive around the neighbourhood; get an overall picture of the community

* Choose a location with the amenities and facilities that meet your needs

* Consider how popular the area is and its appreciation in value in the future

Source: Arva Shikari, Special to Properties

The writer is a freelancer


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