What are Location Considerations You Should Think of When Buying a House?
- Author Jude Santosa
- Published June 22, 2010
- Word count 506
Location is one of the major factors that determines the value of real estate properties. When you're thinking about where to buy a property, there are some things that you should consider. Knowing if a location will be a good investment takes a lot of effort and research. Since you're going to invest a lot of time and money on your investment, it's only natural that you want to make sure the location is just right. Here are a few things you may want to consider when looking for places to buy a house in:
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The local real estate market. - Even if people say it's currently a buyer's market, one can't simply take this as fact and assume it applies to all real estate markets. Some markets perform better than others, and there's a good reason for that. For you to be able to determine how your prospective location is holding up in the real estate market, you'll have to do some research. Ask your real estate agent, research on the internet, look at current ads, ask the people in the neighborhood about how many houses have gone for sale in the past year, how many houses were sold, how long before people needed to wait before they got sold, and questions like that. With a little effort, you can get a deeper insight on the location you want to break into.
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Understand your own changing needs. - When you're single, you may want to live closer to where all the action is. You may want to live near college campuses, bars, or anywhere vibrant and lively. As you grow older, chances are your needs will also change somehow. This is especially true for people who plan to get married and have kids. If this is the kind of lifestyle you want for yourself someday, it's best to anticipate that your needs will change and find a location where it would be realistic to spend several years in it. After all, mortgage payments are long-term, unless you plan to sell someday.
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Look into the quality of the neighborhood you wnat to move into. - The quality of the neighborhood refers to how family-friendly the place is, how the crime rate is, whether people have problems with their property getting vandalized, and the likes. The best way to find out is to do some legwork. You can approach neighbors, especially those who look like they've been there a long time, and ask if they think the neighborhood has changed for the better in the last few years. You can also go to schools and check out the perimeter to see if it looks like a safe place to send children to. You can drop by the local police station and ask local officials how the crime rate or rate of disturbances are in the area.
Take the time to know what you can about the location you want to move into and check to see if it's a place where you see yourself spending years in.
Jude Santosa is a freelance writer who writes about articles related to real estate. Visit our website for more information about North Raleigh homes for saleand to look at North Raleigh real estate listings.
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