You have all heard the phrase Location, Location, Location. Ever wonder why some agents say it three times? I am not sure why either but I can speculate that it is might be a tier of priorities an excellent location, a mediocre location or a lousy location.
How can location determine the value of a home? Well let me tell you the emphasis on the word three times will make you remember the number one rule but at times often over looked.
The Ultimate of Location, Location, Location
You find the ideal home but, in the wrong location. You can try to remodel, re-structure it or alter the home’s layout. It would be costly to move it and it attached to the land.
The best locations are those in prime areas that are:
Within Top-Rated School Districts
For those of you who are home buyers with children and are concerned about their education and often will pay more for a home located in a high scoring school district.
Close to Outdoor Recreation and Nature
Homes with easy access to the ocean, rivers, lakes or parks will hold their value because of the location, providing they are not in the path of a possible natural hazard. People want to be near a visually appealing settings and want to be near water is a must for some folks.
Homes with a View
For top dollar the homes with a view sell quickly because they provide a panoramic view of the city at night or even a small glimpse of the ocean out a main window would be a good location. Other sought after views include mountain, golf courses, or green belts
Near Entertainment and Shopping
Finding a home in many cities within walking distance of movie theaters, restaurants, and boutiques are more expensive than those located further outside of town. Many people would prefer not to drive a long distance for entertainment or nightlife.
In Economically Stable Neighborhoods
If a company is doing well and most of their employees live in a neighborhood near by ththat attracted the same type of people that may have taken pride in the value of their homes.
Near Public Transportation, Health Care and Jobs
Most people who don’t like long commutes to work. Or a trek to the doctor’s office or the airport and prefer to be located near a hospital and or other conveniences. Naturally homes in locations that have a shorter travel time are more desirable.
In the Center of the Block
Most home buyers want to be in the middle of the block. I suppose they feel less vulnerable to theft or like being close with neighbors around them. You will also have less traffic if you are not the corner lot.