What are the factors you normally consider when buying a property? Is it the size of the house, the space it provides or the amenities that accompany it? These are all important factors that people usually consider when deciding on purchasing a property. However, one of the most important things that you need to keep in mind when buying a home is the location. Here’s Why:
Location is one of the factors that never varies no matter what kind of apartment you choose. Knowing about the nature of the neighborhood in which you live and the opportunities it presents are one of the key ways you can ensure a comfortable stay for the long-term. Knowing the locality you’ll be residing allows you to plan ahead and find out where the nearest medical facilities, educational institutions and workplaces are.
It is always a good idea to make sure the location offers the potential to grow in demand over the coming years. You need to think ahead and consult with a real-estate agent to know whether the apartment projects or houses you are interested in are likely to appreciate in the future. This price appreciation is determined by the desirability of the location. As a rule, Prices for real-estate tend to go up in fast-developing cities and growing IT hubs.
In case you plan on renting the property out or selling it in the future, it is a good dea to create a basic profile of who your prospective buyer could be in the future. Consider factors such as whether they would be retired people, working professionals, young couples,families etc.
This way you will not only be considering how well-suited the location is for yourself and your family, you would also be taking into account the location-based needs of a future tenant/buyer .
A location that promises connectivity assures appreciation.When you live in an area where everything from the grocery shops to the workplaces are all close by, it is far more convenient. People tend to flock to places where they don’t have to travel long distances to reach the nearest recreation centre or entertainment venue such as parks,basketball courts, hospitals etc.
The closer your property is located to the most amenities such as malls, restaurants and schools, the higher the rate of appreciation is.
The water resources, greenery and safety are one of the most important factors that determine whether a location is liveable or not. They are a much bigger priority than affordability. The presence of greenery and eco-friendly design facilitates a healthy lifestyle without pollution. This becomes increasingly important when it comes to choosing an apartment. Finding an eco-friendly home is quite difficult in today’s real-estate. A location with a low-crime rate and enough security surveillance cameras and measures in place to ensure the safety of the residents is a priority.
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