What really makes a good location?

Everyone says that location is king in real estate, and there are obviously stats and data that prove that certain locations hold or improve their value more so than others. Beach and inner city locations tend to be on the list and house among some of the most highly coveted property, but in recent times we’ve seen that although location may be key, property type plays a major role too. Many people have recently lost money trying to sell inner city apartments even though the location may be incredible, for example. But the most important question when it comes to thinking location! Location! Location! is what makes a location the ideal for you?

  

At CENTURY 21, we see a lot of people buying and selling, and each of them has a different idea of what makes the perfect location. What may be a make or break aspect of a location for one person could barely rate a mention for another. For many people, distance to work and the level of commute required is a big one, but many others weigh up factors beyond just travel distance when deciding where to live, and I’m not just talking about costs either.

  

When it comes to location, most people have a list of things they want nearby. It could be amenities such as cafes and shops; it could be related to the stage of life their family is in – like seeking out particular childcare, primary or secondary schools, or for some it could even come down to proximity to family and friends – either closer or further away - the list is basically endless.

The type of lifestyle you want to have is fundamentally important in a location decision. If a suburb looks like it has everything you’ve been looking for, it’s still important to do the due diligence on the location and test drive the commute you’d have to do, research the schools in the area, and check plans to make sure the flight path isn’t being moved directly above your house, or a freeway isn’t about to be built through your front garden.  

Although in an ideal world the perfect house in the perfect spot will become available at the perfect price, there is the chance that you may not get everything you want from a location. For this reason it’s also important to know your priorities and be realistic about which ones you’re prepared to forego for others. Everyone has different priorities, and as I’ve said before, real estate is an incredibly personal thing.

What could end up being your ideal suburb could be someone else’s worst nightmare. At the end of the day, it’s all subjective and that’s what makes this industry so incredibly interesting, even years after I first got involved.    

Posted by Charles Tarbey on 06/08/2009 at 8:54 AM | Categories:

Comments

Write your comment





Leave this field empty: