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Location Is So Important When Choosing A New Home

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But why would you wish to live in such a place? I think that it’s important to state that a location that’s desirable to one family, may simply not appeal to another. You need to have an understanding of this fact, when you are coming to look at new homes. Let’s think about some examples of how this could work in practice.

An excellent example might be looking at a property that seems to appeal to young families. There may be the constant noise and fun that’s associated with children playing in the street. Parents choose this location because their kids can play safely with their friends. It may also be close to schools, playgrounds and other facilities.

Location Is So Important When Choosing A New Home

Homes in this area may be in demand, meaning that there is a premium to be paid for living here. But is it worthwhile for you to pay that premium? The answer to this question will depend upon your own feelings and circumstances. If you don’t have children, then this may not be your idea of the perfect location.

When you consider your own requirements, you may realise that it’s more important for you to be close to other amenities. You may have no interest in being close to schools and playgrounds. Instead, you may wish to be in close proximity to restaurants, pubs and bars. Living closer to these forms of entertainment is likely to draw you into a different sector of the town.

Does that mean that you’ll pay more money, or maybe a little less? This does depend, to some extent, upon the town. In some cases, town centre locations are extremely popular. If a train station, for example, is found within the centre of the town, then it’s likely that this will drive up property prices. But those bars and restaurants that appeal to you may actually cause concern for others.

Location Is So Important When Choosing A New Home 1

Will a town centre location ever be quiet? Are their concerns about a constant stream of people seeking entertainment? What about the noise from passing traffic? As you can see, you may realise that none of these elements worry you at all. You may be perfectly happy to live in such a location, but it may also be true that others will not be keen to do so. As a result, property prices in such a location may be somewhat lower than you might expect.

There’s something else that you need to think about too: the resale situation in a particular area. When you are buying a property, you may be thinking about living there for years to come. It’s likely, however, that you may one day want to sell up and move on. This is when you realise that resale values and conditions are important.

How easy will you find it to sell the property? The location may have been desirable to you, but will it really appeal to others? Such considerations demonstrate why those property experts all agree that the location of a home is critical.

—Property Millionaire Intensive

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