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Is location important when buying a house?

Is location important when buying a house?

 
Are you planning to buy a home? If you are then, there are a lot of things you might want to consider before taking a final decision and amongst those things ‘neighbourhood’ is one of the important decision-making factors you would be researching and taking into consideration. Industry experts say it’s more important to pay close attention to your preferred locality. After all, a house can be updated and fixed but you can’t change its location, the ambience or your neighbours. 

 

In fact, you could argue that picking the right neighbourhood is more important than picking the right house. The last thing you want is to buy a property in a locality where you really don’t find like-minded people to socialize with. 

 So if you are looking to buy a home here are a few tips to consider.

 Consider your current lifestyle and needs  

Lifestyle and current needs icons shown in the background

 Before you commence with house-hunting get a clear picture of your lifestyle and needs. What is your current way of life and will the neighbourhood be suitable. Have a look at your daily routine, jot down the things that make you happy, the things you would or wouldn't live without. Do you love to go for long walks then you’re probably going to want to narrow your search to neighbourhoods that have good walking lanes or garden. Apart from pricing, your lifestyle priorities will possibly be the most important factor in choosing neighbourhood 

Distance matters!

Distance between house and office is shown in the world map showing that distance matters

If you need to commute to work every day, distance matters. Your desired location should have good connectivity to the cities with a good frequency of public transport.

The best way to figure out if the commute time is doable is to do a test run during peak times. Go to your desired neighbourhood and travel to work during morning rush hour. That will give you an idea of what your average daily commute time maybe.

 Amenities & conveniences 

Amenities and conveniences impact location decision

 

Grocery stores, restaurants & shopping malls are usually top of the list when people are looking to see what’s accessible in an area. This doesn’t necessarily mean these amenities need to be steps away, just within short driving distance. In which case, you’ll want to know how long it takes to get to these places and what sort of hours they’re open so you can plan accordingly.

 

Scan good schools around you, as they affect the resale value of a house  

Schools around the location helps buyers decision

 

Buying a house in a community with a good school can be a smart investment, because future buyers may have children. Even if you don’t have kids, school significantly affects the resale value of the house. If in the future, you want to sell your house, this is something many buyers will be on the lookout. The distance from and the quality of local schools, do play a major role while shortlisting a house. 

 

Better safe than sorry!

safe house with lot of security is shown

 

For many homebuyers, while choosing a perfect home safety comes first. A neighbourhood with a low crime rate is not only safer but also help keep property values afloat in the years to come. So get a better picture by speaking to the owners already residing there, check online or talk to your local Police to see what crime is like in that concerned area.

 

Future development plans can improve property valueImprove property value

 

It’s important to know what the future of your community looks like. Plans for public infrastructure like schools, hospitals, public transportation can dramatically improve property values in the area. Commercial development can also improve property value. When you're planning to buy a home, try to find out whether any new public, commercial or residential projects are planned and how these might affect the desirability of the surrounding areas. 

Neighbourhood isn't entirely subjective in fact, it's based on a fairly static list of criteria. As its, the location you live in that affects the affordability, value and quality of your day-to-day life. So If you have done your research and have a clear idea of your short and long-term goals, it will make the entire search process much more manageable.

 



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