Location, location, location....check, check, check.

As the spring season IS upon us, and homes seem to be  disappearing much more rapidly than in past months it bears remembering...location, location, location.  You can change anything about the inside of a home, but you can never change your location.  The only thing to compensate for a poor location is PRICE.

 

The first location is the town - pick a good one.  What are the factors that will help appreciation over time?  A thriving economic center.  Access to a good education.  Access to good medical services.  Access to transportation - major expressways or train lines to major city centers. (jobs).  Recreational activities.  These are all things that contribute to appreciation over time,  and make a good bet for selecting a town to live in.

 

The second location is the neighborhood within the town.   This can be a tricky one.  But you can do your homework and drive by and through the neighborhood.  Do so in the morning, do so in the evening.  Realtors can't tell you whether there are kids in the neighborhood, but a perceptive eye can spot a jungle gym.  Make the commute from work as if you live there before you make an offer.  You may find that it's more than you bargained for, or maybe there's a bus stop on the corner and it's precisely what you were looking for.

 

The third location is how the home sits within the neighborhood.  Is the home located on a busy street?  Close to a house of worship that doesn't have anywhere for overflow parking? Overlooking a bus barn?  Close proximity to a train "track" rather than station. Or possibly a cell tower or high tension wires in your neighborhood?  Make sure you do your homework.

 

You can get a great deal on a home that  has an objection.  Simply be prepared that when you sell your home that you will not be able to command the same price as neighboring homes.  So long as you have no issue with a particular objection, and understand this premise, this option might make sense, particularly if the first two locations are good ones.

 

Good advice to be the lowest home in a neighborhood of greater value rather than the highest home of a lower valued neighborhood.  Your resale will be better with the former, as opposed to being over improved and more difficult to get your money out in the latter.

 

Good luck in your home search!