Buying a new home is a big step. Financially it will probably stretch you further and emotionally it might mean a lot for you and your family. Getting it “right” is really important because your house is still your most valuable asset and probably your biggest expense as well.
When it comes to buying a home, many people get carried away with emotions and either buy on impulse or they buy what they “like” based on the way a particular home might look. You’ve probably heard the saying before, but location, location and location are the most important aspects to consider when you invest in real estate. This is most certainly true. Here are 3 important aspects to consider.
Location And Proximity To Schools And Public Services
In countries like the United Kingdom, your postcode will actually determine which public school your kids can attend and homes near good schools are much more expensive. Conversely, homes near bad schools are much cheaper and its really well worth looking into the catchment of a property before you buy it. In some cases the proximity to hospitals can also have a huge effect on the price and future value of a home.
Location And Proximity Of Public Transport
Buying a new home in the middle of nowhere might have its advantages, but in terms of value it might not suite the majority of future buyers who needs to be close to public transport. This is a factor that can have a massive effect on the value of a home and is something you need o pay close attention to before you buy. Its not just public transport but also roads and proximity to major roads that plays a role so make sure you do your homework to try and establish the real value of a property.
Location And Proximity To Roads and Disturbances
Would you ever buy a house next to a highway? Obviously not because the noise and disturbance will drive the value down faster than you can say sale. The real issue is that often we buy a place only to find out 6 months down the line that there is a future highway planed right next to it. At that point you probably can’t do much about it and will almost certainly lose money. Always check on future developments before you buy. You might also want to broaden your check if you intend to buy close to industrial or military areas as the noise and pollution can affect house prices miles away.
By: Deon Du Plessis