My brother-in-law, who is a real estate investor, told me that location plays a significant role in finalising one’s dream home. The location creates desirability, which creates demand, which raises property prices. If you are planning to buy a property, then read below to know
what is the major factors affecting location decision:
The closeness of Important ServicesThe proximity of colleges, schools, shopping centres, hospitals, and recreation centres from home sites is a significant factor. Important services can differ from one to another. For instance, if you have kids, then you should buy a property in a locality which has good schools.
Commute TimesYou should buy a home that is close to public transit (buses, subway, commuter rail, etc.), as well as major highways. You should decide how much time you are willing to spend in traffic while going to and from work.
LifestyleThe quality of life you want depends on your lifestyle needs, and you’d want to stay in a place that will keep you and your loved ones happy. Drive through the places you are interested in, walk around, and visit small shops to get a better understanding of the kind of people staying in those places.
Presence of civic amenitiesAre you looking to stay near amenities like shopping, restaurants, and family attractions? Or do you want to escape the hustle? Take these things into consideration as you’re engaged in your property search.
Property Prices in FutureWhen you’re looking to buy a property for self-use, it seems weird to think about selling it, but property value is a significant factor for buyers who probably want to move again in five or ten years.
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Other Factors Affecting Location DecisionFuture Development
Nearby Means of Transportation
Safety
Quality of Infrastructure
Neighbourhood
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I hope I cleared all your doubts on
what is the major factors affecting location decision.
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what is the major factors affecting location decision?
Kartik
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3 Year
2022-05-04T18:25:30+00:00 2022-05-04T18:43:54+00:00Comment
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