Everyone has a vague idea that location makes a difference when it comes to real estate. A two bedroom apartment in Boston is going to cost more than the same type of apartment in Worcester. But what exactly does location contribute? Check it out!
1. A Safe Neighborhood
A good neighborhood is a huge plus when it comes to real estate. No one wants to purchase a home in an area where crime rates are through the roof. If you’re looking for a place to invest in real estate, pick a good neighborhood, a place where there’s not a lot of crime and people are looking to live.
2. Great Schools
Anyone looking to have a family is going to be thinking of the school district. Whether it’s accredited, the reputation of the school system, how well the students from that school perform: taking those factors into account are key points in making your home more sellable down the road.
If your home is within walking distance of a great shopping area or beach destination, that adds value. Easy access to public transportation that will allow people to get to work or other places without a car adds value. Being around different features in the community that make your home a convenient choice for a businessman or someone who loves being on the coast makes your home more valuable. Access to key areas or features will give your home an extra boost when it comes to its sell-ability, and make it easier for a realtor to entice a buyer.
So, What Makes a “Bad Location”
It can be hard to tell. Some things that you might think are great assets might turn out to be impractical or pesky in practice. Things like close proximity to the hospital are great when you need to get medical attention, but frustrating on a daily basis when you’re listening to sirens at all hours of the day. Or being very close to a bus stop for a school. If you have kids, it might be great, but if you don’t you’re listening to kids yelling and playing early in the morning.
Location is a fickle aspect of real estate, and really depends on who is looking at the house. Something that one buyer sees as a bad aspect of the home, someone else might see as its best aspect. So play up the positive points of your location, and let other people draw the conclusions they will about whether or not something about the location is a good or a bad thing. If you’re looking for more expertise to manage the location of your home, call in a realtor! No one knows how to play up location like a realtor!
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