Thursday, March 13, 2014
Location is the top selling point when it comes to real estate investment, more especially when it comes to buying and selling properties that don't need building or improving. Being in the right location will help you get a good price and sell property faster.
Most home buyers look for a good neighborhood, particularly when buying property outside a subdivision or gated community. A property with well-maintained neighboring houses is a good sign. Avoid buying a home in an area with many vacant lots and run-down houses. Streets should also be clean and free of graffiti.
Most home buyers are also wary of buying a home located near an industrial area or highway as these may affect their privacy.
Access to commute
A central location is always desirable for home buyers, however, central locations may be too expensive. Choose a location that is not too far from key areas in the metro and has convenient access to public commute and major roads.
Safety of the vicinity
Avoid buying a property in a location with a high crime rate. Home prices in such areas are lower for a reason so don’t get carried away by a low selling price. Look at a property’s potential and overall desirability instead.
Keep yourself updated on planned developments by the government and developers alike. Construction of major roads and development of commercial communities will make a location more desirable when these projects are finished. Being on the lookout for these up-and-coming locations will help you buy in at a low price and sell the property at a profit later on.