When it comes to real estate investing, one of the most important factors is location. As they say, “Location, Location, Location.” This is still true today. Most people want to live in a clean and safe neighborhood with nice scenery, lush greenery, well-lit walkways, and areas close enough to shopping centers, medical centers, and good schools. This is pretty much the dream. You can create a dream house from the inside, but it won’t matter much on the outside if the area is poor.
What would you look for?
There are many ideal areas for investing in real estate–whether it be your long-term home or something to serve as an investment property. For instance, C21 Sand County is an area that overlooks 6.2 upland wooded areas. For people who enjoy nature, and want to get away from the city life, this would be an ideal space. Yet, even for those who appreciate the city life, they wouldn’t want to be located right next to a noisy manufacturing plant or next to an airport where planes are roaring above day and night. A home is a haven, and it should be a place where the owner can feel safe, peaceful, and to get some respite from the daily churn of fast-paced living most of us must endure.
Is location the only factor?
It goes without saying that while the location is highly important, so is a price. Yet, side-by-side, location is always better. People will pay more for the same style of a house if it is situated in a better location. Sure, there are people who buy solely on price, but they are probably not as happy with their home as those who had more of a choice in terms of their location. If a home is in a nice area, it will attract more buyers and a better selling price. Even if you pay a little more for a nicer location, it will pay off in the long run.
A few miles make a lot of difference
It’s hard to believe that if you travel a few miles, you might see a nice area then, a bad area that follows. One zip code over might have manicured lawns, while the next zip code feels like skid row. As a result, it pays off to perform your due diligence before investing in any real estate. You want to make sure you know everything about the location and surrounding areas. There are many instances where a location may seem perfect today but go through massive changes just a few years down the road. Buyer’s remorse is real. If you are interested in real estate for the long haul, it’s crucial to make sure you know as much as you can about your potential investment. In real estate, some say location is one thing. Yet the location is the only thing. It’s better to buy a smaller house–in a great location–than a large home in a slum.