Schools may even be the most important factor in a location, especially when you are going to reverse engineer a neighborhood. Are there plans to develop brand new schools in that area? Are the schools that are there rated well? These are the type of questions you need to be asking yourself, as many people will not consider buying a home in a location where the schools are bad.
One of the safest ways to invest in real estate is to invest in the school district. Keep in mind schools are not set in stone. In Raleigh, there is a growth rate of nearly 70 people per day, and thus the schools are becoming overcrowded.
They are building new schools to keep up with consumer demand and this can change the school assignment of the home. Whether it's driving a car, biking, public transportation, or even walkability the commute time is a factor when choosing a location. In major cities, if you buy a house in a location where the city is going to build a new train stop you will see instant appreciation once that train becomes available.
Obviously, if you live right on the tracks it is a different story, however, a short walk to the train stop should make the desirability of your home increase. It's also likely that a train stop will bring other local amenities such as grocery stores and restaurants. Time is the most valuable asset in the world, and this is why people will always pay to save time.
To be within a twenty-minute drive of work is a factor when choosing the location of a home. This is why the areas close to highways, trains, or other means of easy transportation always seem to appreciate faster than areas farther away.
People love the idea of being able to walk to work, or to the grocery store, restaurants, and other local amenities. The best location for easy transportation is near a major highway or public transportation. Typically, downtown living is a great place for walkability. Local amenities have a direct impact on real estate prices in the area. Grocery stores, restaurants , shopping, entertainment, are some of the top amenities people are looking for when buying a home.
Buyers want these amenities within a minute drive. If the location of the home you're buying is within a few miles of most of these amenities it will help raise your property value.
Some of the buyers I work with personally make certain amenities a requirement in their home search. Particular grocery stores have to be within a minute drive for certain buyers or they won't even consider the house. Buyers preface their choice of amenities with statements like 'this may sound weird, I have to be within 10 minutes of a Trader Joe's' not realizing how normal that request truly is!
The location has the largest effect on home values thanks to the impact the location has on the desirability of a home. The location of a home provides convenience to things like Downtown, Airport, Shopping, and more! The closer you are to the convenient hot spots the better your location and the likelier your home will appreciate in the future. Land is one thing they aren't making more of and this is a big reason why the location has such a large effect on home values.
If you're looking to buy a real estate investment location is always going to be your number one priority because you're looking for appreciation and rentability. The better the location the easier it will be to rent the home out and the more you can get per month, while also experiencing great appreciation. In Raleigh, some of the best areas to buy real estate investments are areas with great locations where the real estate prices don't necessarily reflect that.
That's how you experience maximum appreciation, catch the neighborhood on its way up in the beginning. This one can be a tough decision for many people, especially those who are buying a home for the first time.
The answer is easy, location. Location is more important than the house when it comes to the property value. When it comes to which home you will enjoy more, only you can answer that! It's often a matter of patience finding a home you will love in the right price range, so don't jump at a house that is outside of your desired location!
You can always make updates and upgrades to a home, you can't update the location! If you're looking to make a move on a house that is outside of your desired location you really need to step back and ask yourself if you will be happy living outside of your desired area. Many times, our clients will sell their home because they want to be 'closer' to something. Whether that's school, work, or their favorite hang-out spots, location is always a motivating factor for people.
When you're buying a home make sure the location of the home is your top priority and you will find yourself in a great situation. If you're buying a home, the first thing you should do is choose a location. It's the most important factor when buying real estate.
Location matters, even the location inside the neighborhood will have a large impact on your home's value. Once you choose the general area you want to live it makes sense to start searching the specific locations within those neighborhoods.
You want to buy on the low end of the neighborhood's price range because the other homes in your neighborhood will bring your value up.
Another factor to consider when choosing a location is buying near water. People love water. What are your thoughts on the importance of location in real estate? Let us know in the comments section below! The federal Fair Housing Act , aimed at preventing housing discrimination, bars real estate professionals from discussing the racial or financial demographics of a community with their clients.
That said, you can find plenty of information on your own online. Websites like niche. For many homebuyers, safety is top of mind when choosing a good neighborhood. A neighborhood with a low crime rate is not only safer, but can help keep property values afloat in the years to come. You also can visit websites such as CrimeReports and SpotCrime to look through curated crime.
You might also run the address at the National Sex Offender Registry to see if there are sex offenders living nearby, and drive by at various times to check on traffic and noise. Another resource: GreatSchools. A couple starting a family will want different amenities in their ideal neighborhood than empty nesters looking for a slower pace of life. Pay attention to things like parks, open spaces, trails, proximity to shopping, dining and local attractions.
How to check : Again, the internet is your friend. New parents, for example, might check out baby-friendly programming at a library, while a marathoner might be interested in local running groups. When the residents of a neighborhood truly care about their homes and their community it shows — and it creates a better place to live. A neighborhood that belongs to an HOA, for example, is more likely to have a consistent look because homeowners have to follow HOA guidelines.
That said, a too-strict HOA might not be ideal if you want more freedom with your property. Well-maintained homes with neatly landscaped lawns are a good sign that your future neighbors care about their properties and will expect you to do the same.
How We Make Money. Beth Braverman. Written by. Being close or within a reasonable drive to places to jog, sail, or pedal can keep you in love with your home. Proximity and access to tennis courts, neighborhood swim clubs, and golf courses are also qualities that keep your neighborhood on par.
Tree-lined streets give neighborhoods a charming, older, and established feel. These neighborhoods are usually very stable, with longtime residents and community support, which also helps encourage safety and low crime rates. Neighborhoods where plenty of families live are a real draw for buyers with children. There are more opportunities for children to play, socialize, and make lifelong friends.
Easy access to public transportation is a fantastic plus for a neighborhood and an amenity for almost any lifestyle. From a commuting millennial to a retiree who wishes to keep the car at home, public transit is a solid upgrade to any neighborhood. Is there a nearby town center or downtown with movies, theaters, bars, and nightlife? This could be the one thing that makes your neighborhood come alive. This is a priority for anyone who is young and single, but everyone appreciates a neighborhood where the hot spots are within walking distance or a short cab ride away.
Being able to leave the car keys at home and hit the pavement to walk to markets, shopping, restaurants, parks, and all the other amenities your neighborhood has to offer can alleviate a lot of road rage … and make you fall even more deeply in love with your neighborhood. Group Created with Sketch. Back to Trulia's Blog.
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