Location of your House

When it comes to home buying, location is one of the, if not the most important factor you need to consider. Location determines your lifestyle, impacts your quality of life, and your levels of contentment and emotional well-being, in addition to being directly linked to your financial situation.

If you are an aspiring home buyer, it is best to hire a real estate agent and let him/her know your needs and requirements, so s/he can pick out a suitable location for you. However, you can also accomplish the task privately, by driving around the neighborhoods you are interested in, in order to assess whether they are to your liking. You can also speak to people who live in the same location – ask them about the area, and what they like and dislike about it.

Whether you hire a real estate agent, or undertake the task yourself, you need to begin by chalking out your preferences, and determining what you are looking for in a neighborhood – this is directly linked to the sort of lifestyle you are used to or want to adopt, so make sure you choose wisely, and ask yourself some pertinent questions, such as:

• What sort of a reputation does the neighborhood have? Make sure you select an area known for being peaceful and secure, with a low crime rate – avoid neighborhoods which are considered shady.
• Find out about the neighborhood’s quality – are people proud of living there, and owning houses in this particular location?
• Determine what stage of development the neighborhood is at – is it stable, improving, or declining?
• Is the location starter, average, or prestige?
• What is the resale value record of the area?
• Are you looking for a newer subdivision, or a mature subdivision?
• Look for any negative or positive elements, which might affect the marketability of property in this area.
• What is the average age range of most of the properties in the area?
• Determine whether the location is urban, rural or semi-urban – which one do you prefer?
• How close is the location to your job (this is important if you do not want a long commute), and what is its proximity to other facilities like schools, parks, shopping centers, and the homes of your friends/family?
• Determining whether green space, railway or hydro corridors are located nearby is also crucial.
• Are commercial ventures encroaching on the residential area, and what effect does this have on the value and desirability of the location?
• Find out about the traffic patterns in the area – are they too hectic for your liking?
• Do all the homes in the area conform to a particular design and layout? If it is so, and if you are averse to this, you might want to reconsider.
• What sort of residents and lifestyles does the neighborhood cater to? E.g. rentals, empty nesters, young families, and so on.
• Does the neighborhood function on the principles of privacy, or is there regular social interaction and a sense of community? Which do you prefer and require?