Consider location before real estate investing
Location is the most important thing to consider before investing in real estate as it has great impact on property value. Good location homes are sold out like hot cakes, but it’s very hard to find the buyers for the ones with bad location. This is why it’s important to consider location before real estate investing.
Good real estate locations to consider
Near to city center
The most prime area of any city is its center. City centers offer aspiring job opportunities and better educational, medical & recreational facilities. It’s the desire of everyone to live in the city center as nearly all facilities are available at just walking distance. This is why homes in city centers are expensive as demand is very high. Real estate investment in city center is ideal as it provides high returns.
Near to various amenities
While buying or renting a home, people prefer the areas which have top schools, hospitals, shopping areas, parks and cinemas. It’s because people want these facilities near to their homes. Due to high demand, houses which are near to basic life amenities are expensive. Therefore it’s important to look for these amenities before investing in real estate.
Near to important transportation links
In cities people commute on daily basis for work and other purposes. Due to the rising traffic on roads, the importance of public transportation is increasing day by day. When selecting a home, people also look at the nearby bus or train stations, as it helps them to move easily. Therefore it’s better to invest in a home which is located near to bus or train station.
Bad real estate locations to avoid
Areas hit by recession
When economy is falling, people move to other cities in the search of job. Due to this, city population decreases and demand for homes is low. Low demand leads to low property price. So it’s recommended to never invest in an area which is hit hard by recession as property demand is low and chances of price fall are more.
High crime areas
Everyone wants to live in the areas which are crime free and have better law and order situation. People are always willing to pay extra for localities which have high security. On the other hand, high crime areas are undesirable as people don’t want to risk their lives. So never invest in high crime areas as you will lose your money.
Areas with high pollution
In cities, air and noise pollution is the big issue. Factories and heavy traffic increases the air pollution. At the same time many urban areas have high noise pollution, as these areas are under the routes of air traffic or near to the train tracks. The areas with high air & noise pollutions are not suitable for real estate investing.