A home is where your story begins and many pre generational stories had happened. It reflects warmth, happiness and lots of joy. Buying a home is a complex process, but that is not an excuse for homebuyers from their obligation for due diligence. This process starts from looking out a preferred location, homebuyers often forget to focus on it and end up buying a nice house with a horrible location. As a consultancy firm, T and T Realty will be giving you realty services regarding what buyers should consider while looking out for a great location and how it affects your property value.
It depends on the customer, most of them are looking for a house in the neighborhood and some need it away from the crowd in the peace. And the very demand is the key factor here, if you’re looking for in a neighborhood then the value is high compared to the other locations. Starting a family, then the real estate advisor will advise the new parents will be comfortable in the neighborhood for the easy access of facilities.
Survey shows there’s a percentage of buyers that keep in mind the quality of schools and proximity to schools as deciding factors in the house buying hunt, many real estate consultants have noticed this too. And this leads to an increase in the value of the house or property. Excellent schools work as a cherry on top while calculating the value of a house.
Change is inevitable but predicting what the future hold for us is not possible. You or your real estate agent can evaluate the pros and cons of a place and factors that will impact the land or house in a particular location. Also, what if your preferred location has a chance to be converted into an industrial or a manufacturing plant, then the location is ruined for living. Anything can be built on land, but we can check its future prospects of it.
The term “The Starbucks Affect” has been coined to see how property value is affected by the distance between the houses and stores and restaurants. It was noticed that the value of such homes increased by more than 90% compared to homes in other locations.
So, we can say that locations having a nearby business like bars restaurants, airports, entertainment places, ice cream parlors, salons, etc. can make a huge difference in the property value. Most of the agents who provide such realty services will tell you an approximate budget if you’re looking in such areas.
Well who wouldn’t want to wake up to a tranquil view every morning and sleep at night gazing the stars? You’ll prefer a lake compared to the cemetery, it’s no brainer. And this also plays a vast role in the price of the property.
Your real estate advisor will show you all the spots in the house where the view is amazing and the more the merrier.
The residents association is a huge debate to work out. As these are better in some situations and in some people don’t want someone else to govern in their neighborhood. But most people would prefer one so as to avoid the conflicts with their next door neighbor. Fighting over car parking space on a daily bases can exhausting so it’s better to let someone else call the shots.
Neighborhood amenities play an important role. Some of them come along with the development naturally and some with a price. You need to maintenance charges for things like the community pool, playground, tennis courts, BBQ area, and even the yard. These amenities help the real estate agents to lure potential buyers get desirable value for the house.
The size of the neighborhood does matter when it comes to choosing one. A small congested neighborhood can be a pain in just trying to leave. And also, there can be many other factors involved like traffic lights and subdivisions. A good real estate agent will give you a tour of an entire neighborhood.
Always find out the crime rates in any location as it affects the value of your property. Choosing a safer area is going to be a better option in terms of well-being but the value of it will be slightly higher compared to other properties. Your real estate agent should have knowledge of the crime rates in your preferred area.
When you're on a hunt for your next dream home or investment property, consider these factors beforehand and always remember, the actual physical structure depreciates over time. Do your own research first, don’t depend on the real estate broker for all the requirements and information. Know that it's the land that grows in value and it is all about location, location, and location! And obviously many other factors.