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Is Location Really All that Important When Buying a Home?

Realtors emphasize "location, location, location" for a good reason – it is what makes or breaks a property.

Urbanites usually find it hard to move to the countryside. No matter how beautiful a house is, if it is too far away from a major town or city, they will have a tough time living in it.

Some people discover too late the importance of location when buying a home. Even if the home sits within the urban landscape, an undesirable neighborhood can cause stress.

An excellent location is a combination of several factors contributing to a peaceful and convenient life. A desirable site can also have a positive impact on a home's resale value.

Homebuyers have varying preferences when it comes to which location they consider optimal. Some prefer homes near the entertainment district, while others prefer the serenity of suburban living. However, there are objective factors to consider that can help determine what an overall good location for a home is.

Why Location is Valuable in Buying a Home

You can always make modifications or upgrades to your house, but you can't change the spot where it sits. Even if you are building your home from the ground up, you must choose a good location first.

Here are five factors that influence what constitutes a good home location.

1. Quality of Schools

If you're moving to a new home with your kids, it's important to prioritize its proximity to a school district. You also need to assess the school's quality.

Finding a home that includes all the features and amenities you want is not that easy. If given a choice, most buyers will pick a house close to a reputable school district and forego one with premium home features.

You can check sites like GreatSchools.org and Schooldigger.com to determine whether the school district in your target neighborhood has good ratings. You'll be able to check the school's test scores, school and district boundaries, and ethnic demographics.

Even if you're moving in without kids, choosing a house near a quality school district can increase your home's value. Do you have plans to sell your property in the future? Your home's price can enjoy a significant boost if there is an increasing number of enrollees in schools near you.

Great schools usually influence other location factors such as better transportation options and increased safety. 

2. Low Crime Rates

Choosing to live in a neighborhood with a high crime rate is never a good option. You have several ways of enhancing the security of your house. However, the stress from neighborhood crime rates can affect overall health.

The overall effect of crime rates on a house's value is relatively small. However, a neighborhood with a high crime rate will more likely have substandard schools and almost non-existent amenities. The rate varies from block to block, so you need to scrutinize the area thoroughly. You may be purchasing a home for a lower cost, but there is a very slim chance you'll be able to sell it at a higher amount in the future.

On the other hand, a house that sits in a neighborhood with low crime rates ensures that you won't have to stress out when you’re at work or grocery shopping. You will have peace of mind that your family is safe, whether inside or outside your home.

3. Like-minded Neighbors

Different types of neighbors also affect the quality of location. Neighbors with noisy dogs, untidy property, or even those who play loud music can negatively impact the area and thus a home's resale value.

Get a firsthand experience of the location where you want to move in. Allocate a schedule to take a walk around the neighborhood, preferably at different times of the day – it will help you sense the area's general vibe. If you can meet with future neighbors, you can better assess the community you'll be joining.

Communities vary from place to place, and you'll find people with the same preferences within the boundaries of each location. That's why choosing a house located in a neighborhood that you find comfortable to stay at is a crucial factor you need to consider when buying a home.

4. Good Accessibility and Amenities

Do you prefer a place where you can easily commute to and from work? How about a clean and green pathway to take a morning or evening jog. A house that sits in a good location should address your current lifestyle.

Here are some characteristics a good location should have in terms of accessibility and amenities:

  • Has plenty of trees: Large trees help add character to the neighborhood and offer a shade to keep cool during the summer months.
  • Accommodates walkability: A walkable neighborhood helps improve overall health aside from providing alternative access to amenities.
  • Essentials are easy to access: Pick a location that offers convenient access to pharmacies, groceries, banks, and other retail services.
  • Access to medical care: Dental offices and health clinics should be a few minutes away.
  • Encourages outdoor activities: Public parks, tennis courts, and jogging trails allow the community to stay physically active while enjoying their hobbies.
  • Access to public facilities: Nearby police and fire stations add a sense of security. Easy access to public transportation, on the other hand, is perfect for those who choose to commute.

5. Future Developments

Future developments can help ensure that your chosen location will not stagnate over time. Plans for new schools or other civic infrastructure significantly improve property value. 

When looking for a home, it is best to ask about upcoming commercial developments for the neighborhood or nearby vicinities. You'll have a better grasp and forecast if the location will continue to match your lifestyle long-term.

Choose a Great Location when Buying a Property

The value of a property's location is not purely based on preferences. These five objective factors can serve as a guideline while you shop for your new home. If you're in a pickle to make a decision, remember that you can improve a house anytime, but you can't move it to another lot.

 Find your new home at Oberer Homes, where there's no compromise between house and location.

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