LOCATION IS EVERYTHING…WELL, ALMOST.

LOCATION IS EVERYTHING...WELL, ALMOST.

 When marketing a home, RELTORS® recognize the impact of location upon market value.  Real Estate Appraisers are very cognizant of LOCATION when determining the most relevant of comparable sales.  Prospective Home Buyers place premium importance on property location. 

We all know the first three rules in real estate marketing are: Location, location and location.  But what are the elements that enter into determining LOCATION?  And, is LOCATION EVERYTHING? 

Location has a direct impact on the cost/value of land.  A builder could (in theory) build the same floor plan, square footage, elevation, go to the very same builder's supply and purchase the same lumber, doors, windows, roofing, drywall, flooring and trim, install identical appliances & fixtures, hire the same sub-contractors and pay the same fees, etc.  BUT he could have thousands more invested in one building lot versus the other. 

WHY would the Home Buyer pay that extra cost when he/she could get the same house a few miles away, for thousands less?  LOCATION.  But what elements attract the Buyer to the more expensive home? 

Could it be: 

LOCATION RELATIVE TO FAMILY & FRIENDS  Some folks want to be close to members of their families, or maybe not so close. 

LOCATION RELATIVE TO WORK AND JOB-RELATED AMINITIES  Travel time, distance and convenience  impact a families budgeting of time and scheduling. 

LOCATION RELATIVE TO COMMUNITY ACTIVITIES & SHOPPING  Where are the grocery, cleaners, malls, parks, churches and theatres? 

LOCATION RELATIVE TO SCHOOLS & LIBRARIES  With children, education & social activities revolve around school, and other related activities. 

LOACTION RELATIVE TO SECURITY & CRIMINAL ACTIVITIES  Families have a genuine concern for their safety and well-being. 

LOCATION RELATIVE TO SCENIC VIEWS & NATURAL VISTAS  Some of us do not want to look out our window and gaze upon house-after-house-after-house.  We need some of God's handiwork readily visible to maintain our sanity. 

LOCATION OF AMENITIES WITHIN THE HOME OR ON THE PROPERTY  More than square footage, number of bedrooms and baths-location of master bedroom with regard to children's rooms, kitchen and/or family room may often be critical.  Where is the utility room?  How many steps up/down, in/out? 

This is true in Nashville, Tennessee or Cottontown, Tennessee or anywhere else.

Yes, Location has a direct impact on the home's desirability, and thus its marketability.  Right?