There is an old saying in the real estate business that the three factors that
determine the value of a property are location, location, and location.
It appears that the old adage is still true. In a recent national survey of home
buyers, 67% indicated that location was their first consideration in choosing
a home. Another 16% indicated that size was the first factor while an additional
16% said that price was their primary concern.
Why is location so important?
WORK: The proximity of a home to places of employment has traditionally
had a big influence on where people decide to live. Many communities that are
primarily residential came into being as a result of a relocation of a major business
or plant to the immediate area. Many homeowners want to avoid the problems and
frustrations of commuting a great distance to work.
SCHOOLS: The quality and reputation of the local school system
can have a dramatic affect on the desirability of a particular area. Some people
interview principals of the elementary schools to determine the teaching philosophy
and staff competence in each area being considered. The reputation of certain
high schools also greatly effects home buying decisions. If you are buying in
a certain area because of schools, be sure to verify that the home you are considering
is in the desired school boundaries. Some school boundaries wind through a subdivision
including some homes and excluding others in the same neighborhood.
LIFESTYLE: Various locations offer different lifestyles to homeowners.
Country living is the only way to go for some people. They are willing to deal
with longer commuting distances so that they can enjoy the wide open spaces. Still
others like close-in locations where they can enjoy the life of the city dweller.
Ask for the help of your local Realtor® to find the right location for you.