How To Determine If A Property Is In A Good Location
You’ll hear people talk about properties being in good locations when they’re searching for a new home to buy. In fact, one of the first things you have to do when searching for a property is select the location you’re searching in. Everyone dreams of getting a home in a fantastic location - but what exactly do we mean by that?
Specifically, how do you determine if a property is in a good location or not? Normally, three simple questions will reveal the answer…
Is it within a reasonable distance of essential places?
By ‘essential places’ we’re talking about a long list of things that are critical to your daily life. Two obvious ones that spring to mind are schools and work opportunities. Does the location have both in abundance? If so, it’s better for you and your family as you can easily take your kids to school and make it to and from work without massive commutes.
Similarly, other places are just as important - such as hospitals or doctor’s offices. If you live somewhere and search for a general hospital near me, and the closest one is over an hour away, that’s an issue. You need to have good access to healthcare services in case something goes wrong.
Does the area have a low crime rate?
Ideally, you want to live somewhere that is safe. You don’t want to buy a house and live in fear of something bad happening. Unfortunately, some locations are not as safe as others. If you’re looking at a location that has a notoriously high crime rate, then it’s hardly the best place to go shopping for family homes.
Sure, bad locations like these usually command lower house prices - but is it worth the risk? Instead, you want to find the safest places to live and look at getting a house in one of these areas.
Are there lots of things to do?
There’s not a lot worse than living in a location with nothing to do. Sure, it’s safe, sure it’s close to work, but there’s nothing else for you to do. Weekends are boring because you can’t do anything. It means you have to venture out and go to other places to have fun - which can cost a lot of money.
While it might not seem like a big deal, living somewhere with plenty of things to do is actually very important. Otherwise, you are doomed to a life of boredom and spending half your time in a different location anyway!
The next time you go property hunting, look at the locations of the homes you’re interested in. Ask yourself, is the location within a reasonable distance of essential places? Does it have a low crime rate? Are there lots of things to do? If you can answer yes to all three of these questions, you have found a very good location.
On the contrary, if you answer no to all of them, this is a location that should be avoided. Three out of three is the benchmark, but if you have to make sacrifices you can possibly live somewhere that only has two out of three yeses.
