Location, Location, Location is the number one rule in real estate, and it’s often the most overlooked rule. The best locations are those in prime spots such as the following:
- The school districts affect home value. Even if you don’t have kids, it pays to check out a neighborhood’s school district before buying a home, as living in an area with a sought-after school system can raise your property value for resale.
- Close to Outdoor Recreation and Nature – Homes abutting the ocean, rivers, lakes or parks will hold their value. People want to be near water or visually appealing settings.
- Homes with a View – Some homes sell quickly and for top dollar because they provide sweeping panoramic views of the city at night, but even a small glimpse of the ocean out one window is enough to substantiate a good location. Other sought-after views include mountains, greenbelts or golf courses.
- Near Entertainment and Shopping – In many cities, you will find homes that are located within walking distance of movie theaters, restaurants and boutiques are more expensive than those located further outside of town. Many people would rather not drive if they can walk to nightlife.
- In Economically Stable Neighborhoods – Neighborhoods that stood the test of time and weathered economic downfalls are more likely to attract buyers who want to maintain value in their homes. These are people who expect pride of ownership to be evident.
- Near Public Transportation, Health Care and Jobs – Most people do not want to endure long commutes to work, the doctor’s office nor the airport. They prefer to be located close to emergency services and conveniences.
- In the Center of the Block – Most home buyers want to be in the middle of the block to feel less vulnerable with neighbors around them, but they definitely enjoy less traffic.