Why Location Is Important When Buying a Home

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Your Question: Why Is Location Important When Buying a Home?

Professor Tate's Answer: 

 

When looking to buy a house, the location of the house is very important.  Most people want to buy a home in a decent neighborhood, as they have the intention to remain at their home for many years to come.  If someone is planning to buy a home strictly for the resale value, then the location will prove to be even more important.  The resale factor of a home is very dependent on the location, simply because someone wouldn’t want to buy a home that wasn’t in a decent neighborhood.

When buying a home, the general rule of thumb is to purchase one that will appeal to a large number of potential buyers.  To do this, you’ll need to look at the location of the home.  The community is very important, especially in terms of crime.  If you buy a home in a neighborhood that is well known for crime you’ll more than likely have difficulty when you try to sell.  Bad neighborhoods generally spark little to no interest.  These days, people want to buy homes in the best possible neighborhoods that they can afford.

When buying your home, you should always narrow the choices down to a few of the best cities around you.  You’ll want to buy your home in a community that has a stable economy and plenty of commercial and business districts.  This way, when you decide to sell your house, you can rest assured that your house is in a good selling area.  You should also look at the crime statistics for the area. If the crime rate is high, you should look into another area.

You should also look into the local school system.  Even though you may not have kids now, you should always think about the future.  A home that is within a short distance to shopping centers and quality schools are always easy to sell. If you buy a home that is in a bad neighborhood and has poor schools, you’ll quickly regret that decision.  If you can’t afford to purchase a home that is in a good location, you should work on your credit and save up some money until you are able to purchase a home that is in a desirable location.

Although the size of a home is important, the location is one of the most important aspects to buying a home.  The location is important for those living in the home as well as the resale value.  A home that is in a desirable location is always easier to sell, for the simple fact that the location speaks for itself.  If you’ve been thinking about buying a home for the resale value – you should always make sure that you pay close attention to the location.

You asked, now you know!

-Professor Reel S. Tate 

 

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