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    Location Matters

    Everyone has heard the phrase”Location, location, location”and knows that it is an important
    factor when looking for a new home, but many people do not really know what the phrase
    actually means. Here are a few things to consider about your next property’s location:

    1. Is the area fully or almost fully developed, or does it display a high level of urban sprawl?
    More fully developed cities will mean a higher price tag, however this also translates into a
    more valuable property when it comes time to sell. Communities where there is too much
    room to expand have suffered from massive population growth, followed by a population
    exodus. While the property will be less expensive hear to purchase, it also does not have as
    much value.

    2. In tandem with number 1, check out development plans for the area. If new schools,
    hospital, etc. are in the works, that less expensive urban sprawl area may see a rise in
    property values.

    3. Are there desirable amenities in your chosen community? By that, meaning are there
    stores, schools and easy access to your work nearby? Be sure you figure out how far you
    are willing to travel for these things. This is a balancing act as you do not want your
    property too near the local grocery store either. A close look at how well the neighborhood
    is kept up will benefit you as well.

    4. A common sense tidbit that you probably know but probably forgot – your house will
    depreciate in value, but the land it sits on will keep its value or appreciate. So if you have
    narrowed your search down to a beautiful house on a small lot or a fixer upper on a large
    lot, in most cases choosing the latter will earn you more bang for your buck in the long run.
    Unless you cringe at the thought of doing any home improvement or repairs, which may
    have you hating your decision to growth that big ol’ lot.

    Location does matter, so give the non-emotional factors as much weight as the ones that make
    you heart go pitter-pat.

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