As the old real estate adage goes, “Location, location, location”. May it be your commercial business, office or the house you live in, having the perfect location is very critical to the success of your business and investment. In residential properties, taking the time to study your needs and wants will help you enjoy living in your place for many years. Let us look at some points to consider in choosing the best location for your next home.
1. Buying a House in a Neighborhood You Know Well.
There are a number of buyers that purchase a home in a village or an area that doesn’t fit them. The travel to work, closeness to basic establishments we need including the proximity of our children’s school. It is best to spend time driving in the neighborhood at different time frames and get the feel of your travel and take into consideration the traffic that can be involved.
2. Do Some Research of Upcoming Developments.
Look out for up-and-coming villages that are in a developing area. Property values will increase in time. Just make sure that it is still close to your daily work and needs. If it is an already developed area, take time to do some research as real estate development is continuous. You wouldn’t want to be too to near hospitals, cemeteries, high-crime area, etc. that can ruin the value of your investment.
3. Stay Away from Calamity Areas.
The country is in the ring of fire so do expect that any natural disaster can come anytime. Staying away from flooding areas, fault lines and even near volcanoes will do you good.
4. Buying a Property That’s Difficult to Resell.
Always have the notion that you’re going to sell your house anytime in the future. We all think it’s forever though down the road, we all have to upsize, downsize or even relocate. This is the cycle of life. When looking at houses to purchase, try to be the buyer and the seller at the same time.
5. Check out the Demographics of the Neighborhood.
Yes, this can come to play as well. Being in the right area where you “belong” will bring you the satisfaction and enjoyment of living in your place. Again, drive around the area and visit the nearby malls, supermarket, coffee shops, schools, etc. to know more first-hand the neighborhood. Even a trip to the local barangay or police station and inquire about the crime-rate can help.
Here are just some things to ponder on in knowing the importance of your property’s location. In the end of the day, you would want to have the perfect serenity as you do your daily business and life tasks. Eliminating any regret will give you peace of mind and assurance that your home investment will do well in the future. Having the guidance of a professional Real Estate Broker can help you attain this. I always believe that the success of buying and selling is always linked to the location of a property.
By: Peter Norrdell
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