How important is property location? Very. When considering a house purchase, it's always wise to weigh how property values may rise - or fall - before making an investment. Generally speaking, property values tend to rise in neighborhoods where there is a transit route that cuts commute time. What's more, houses located within the jurisdiction of a good school district have higher property values than those served by less desirable schools. Despite this, a house's value can be adversely affected if it is situated directly across the street from a school.
Location within a community can affect property value as well. A house that is within walking distance of public transportation or a shopping area is oftentimes more valuable. But if it's too close to either, it may lower in value. Similarly, a house near a busy freeway or heavily traveled road is generally lower in value. Within subdivisions, cul-de-sacs tend to be quiet, private and more desirable locales. Thus, corner lots often sell for less due to their increased exposure.
information from the CRS "Your Home" newsletter
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