The Importance of Location When You Buy Property
Published on Wednesday, 13 June 2012
When you buy property you invest a lot: finances, time, efforts and hope. That is why every buyer wants the best real estate which matches their needs. There are many factors which one should keep in mind when investing in property and one of the essential ones is the location. Many home buyers wouldn't put location high in the list of their concerns, but they really should. The location of the property is a crucial point and it directly affects the value. It also has a big impact on the renting and resale potential of the place. One side of the significance of location is its accessibility. This is an important factor for both commercial and residential properties. A good access includes different transport options and a regular public transport. Even if the property looks great, spending a long time waiting for the bus to work in the morning can put any buyer off. In terms of residential properties, the best location is one which is safe and secure. A buyer wants his family to feel and be safe where they live.
Parents want security for their children, so that they can go to school alone or play outdoors. A residential property should be located in an urban area, in a safe neighborhood, ideally with low rates of crime. It is beneficial if the home is near a school and a hospital too. These facilities are important for families, which are usually the target group for buying and renting. A key factor is the desirability of the area. If the property is in a desirable area, the houses for renting and buying will have higher prices. Having a property in a desirable area directly affects a person's quality of lifestyle. This would mean that a family has a variety of shops to choose between, many available facilities, good transport system, good education for their children and ideally less time spent in commuting to work. The income in wealthier areas is much higher and there are plenty of cultural activities. What attracts many buyers is how secure an area is, of course. That's why buying a property in an apartment block which has a reception desk, security guards and gates is a very good idea. This is the preferred type of property by most families. Another factor buyers look for is a secure parking. Many people are willing to pay a bit more for an underground parking if this will mean more security. If you consider buying property in a big city, the central city area will have the highest prices and there is not much chance for them to go low. However, this is a good investment, because the rents there are also the highest. This is the case with cities like London and New York. The prices of properties in their central areas are getting higher and higher and there is even shortage for properties. Living in the central area of town means you have access to tourist attractions, the best entertainment and leisure facilities, which many people long for. A convenient distance to work is what many buyers look for and convenience is often worth the money. A property near your workplace means almost no expenses on transport which is a great benefit. In terms of commercial properties, the needs are different from those for residential properties. A commercial property should be located in a place where customers go often, so it never stays empty. Ample parking space is what matters, so that people don't spend too much time looking for a place to park.
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