The Importance of Location in Home Buying
Published on: 16 Nov 2023
Looking for a new home? If yes, then there are a lot of aspects you’d like to consider before choosing the right one. Doesn’t matter if you are a first-time buyer or an investor; with the right research, market knowledge and guidance, you can quickly arrive at the right, well-informed decision. So, let’s dive into how important location search really is, especially if you’re a first-time homebuyer.
Criteria 1: Proximity area
With a busy lifestyle these days, everyone wishes to be in proximity to all basic necessities. Choosing a home or a property that has good access to schools, grocery shops, colleges, gardens, restaurants, shopping malls, public places, your office location, etc. can not only help you save your valuable time but also give you a sigh of relief in this fast-paced world.
Criteria 2: Future development
Property appreciation is always directly proportional to the scope of development of any area; hence, while choosing your dream home, careful consideration must be given to the growth potential of a location. It’s not only the present amenities but also future advancements that matter as well. To make this assessment easier, ensure you have all the information regarding any upcoming new schools, colleges, hospitals, public transport access, main roads & highways, residential and infrastructural development. Also, enquire about commercial development as it can act as a game-changer in the way a property is perceived. Always think about what the property value will be after 5 years and what factors will make it decline or skyrocket.
Criteria 3: A good neighbourhood
People always say you shouldn’t peek into a neighbourhood. But in this case, you must. Being aware of your surroundings, neighbourhood locations, and what kind of residential spaces are nearby can give you good information about an area. It is then your personal choice to pick the neighbourhood which is most appealing to you. Many people tend to be attracted to the amenities, accessibility, and appearance of the neighbourhood, while others may want to belong in neighbourhoods where the daily commute to work is shorter. So, before you buy a home in the locality of your choice, make sure you spend ample time in the surrounding neighbourhoods.
Criteria 4: Facilities
The main factor that attracts most buyers to a property is the amenities provided by the developers. When you enter the premises of your residential place, you expect it to be clean, well-organised and overall pleasing to the eye. A swimming pool, fitness, clubhouse facilities, garden, kids' play area, activities for senior citizens, and 24/7 security are some of these facilities that ensure safety as well as enhance wholesome living.
Criteria 5: Public transportation
In this busy day-to-day life, while some of us like to reach our workplace in a jiffy, there may be other residents who solely rely on public transport to commute to the office. In such cases, travelling using public transport can be an ideal option as it saves time as well as money. Having access to public transportation near your home can thus be a beneficial factor to consider.
Ready to make your decision?
Now that we have covered the important aspects of selecting a property, we hope your house hunt begins on a positive note. Considering the above factors will not just give you the immense happiness of owning a home of your own but also of enjoying the perks of property appreciation in the long run. And if such good home-buying options are coupled with attractive finance options, you can get a home loan according to your income in no time.
With a fluctuating real estate market, narrowing down a home of your choice can be quite difficult if you don't have the right guidance. To get the best of home-related deals, expert assistance, and timely suggestions, contact EstateMint and let us bring you a step closer to your dream home scenario!
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