Location, location, location. If you’ve heard it once, you’ve heard it a thousand times: where you build your home is just as important as what you build. A suburban neighborhood is going to feel very different from a property set along a highway, which will feel very different from a beach house on the coast. It’s all about the surroundings. Naturally, different people will be looking for different things, but here are a few general things to consider when looking into property location.
- Immediate surroundings. This is a big one. Obviously, a home with spectacular lakeside views and a large property will dictate a higher cost than one with a small property set alongside a major road. But, unlike other items on this list, the immediate surroundings can be modified to a certain extent. Accentuate the favorable aspects of the property with the virtually-unlimited potential of landscaping: lawns, flowers, trees, bushes, decks, patios, ponds, and even fire and water features.
- Distance to city or town. Transportation is a massive consideration when looking at the location of a property. One must consider their morning commute, as well as access to modern conveniences such as the grocery store and the doctor’s office. How long will it take to drive to these places? Are you willing to spend the money on fuel? No one wants to feel like they spend the majority of their time driving between their home, their job, and their errands. The further a property is located from a major city or town, the less likely you or other prospective buyers are going to be willing to spend.
- Neighborhood appeal. What kind of neighborhood is the property set in? Perhaps it’s a quiet suburban neighborhood with young families and elderly retired folks. Perhaps it’s a sketchy part of town with a high crime rate. Perhaps it sits apart from other homes entirely, individual and removed from a cohesive neighborhood. These are all things to consider when looking at a property. Research the area, compare prices, and maybe even get a second opinion from the locals.
- School district. If you have children, this may be one of the more important decisions. Favoring a particular school district will put a hard limit on your property options. Furthermore, districts themselves are tricky. A single road may serve two separate districts between one end and the other, so pay close attention to the boundaries and make sure to confirm your decision with someone who is knowledgeable on the subject. You and your children don’t want any surprises when the first day of school arrives.
- Future development & amenities. When considering the location of the property, what does the surrounding area offer currently, and what does it promise in the future? Is there potential for growth and development? Are there amenities such as pools, parks, and sports facilities? Although these have nothing to do with the property itself, these are major factors in its value.