Location.. An important factor to consider before choosing a property.

We now know – or should know – that the most important thing to consider when buying/selling your land/house is the neighborhood. So if you’re buying, think ahead; purchase your dream property in the wrong location and you may be buying into a nightmare. Here are some location go-gos:

  • Development attracting areas:Facts have shown that having a piece of property in/around a location with close proximity to major developments such as a shopping centers, free trade zones, market, tourist areas(or if an area has been mapped out for such in the near future) means that when you sell you can expect a positive huge impact on your sales price. Such Properties have a large likelihood of appreciating upto about 70 to 150 percent each year.
  • Educational outfit: Also make sure there’s a “good” school around as a bad one reduces your property value.. Lol.
  • An article in the Journal of Transport Economics and Policy indicates that having an airport nearby can discount the value of your home.The greater the noise level, the greater the negative impact.However if you own a land around an airport you will surely make a kill when you want to sell as investors will be looking to buy it from you for commercial purposes such a resorts, malls, etc.

Among the amenities to look for in your neighborhood-to-be:

  • Proximity to transit:Most people will pay to live in a location with good transport options.most folks don’t like to depend on cars to “work” and “live”. However for those who re mobile, you should be looking at a location with motorable/good road network roads.
  • Security:No one wants to come to a place where one isn’t sure what to expect as per security. A secured environment equals sane inhabitants.
  • A neighborhood on its way up-not down: In transitional neighborhoods, you get a lot of value for your property-buying buck. Your real estate agent is the best source of information and will also know if there are any planned roads or developments that may impact the neighborhood-positively or negatively.
  • Water, parks, and green spaces. A nearby waterfront can add up to 25% to the value of your home. A fabulous view is also a moneymaker when it comes time to sell.

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