True, the phrase, “location, location, location”, is a cliché. But smart homebuyers have come to realize that the location of their new home not only determines how happy they’ll be with their purchase but also dictates its resale value. Following is a primer to help you find the right home in the right location.
Don’t be tempted to buy a great house in a bad neighbourhood unless you can see signs that the neighbourhood is changing for the better. Future buyers will not be willing to pay top dollar for a house surrounded by fixer-uppers.
Decide what you want in a neighbourhood before looking. If it’s important to have excellent schools nearby, don’t look in areas where your kids will have a long drive or bus ride to school.
How safe is the neighbourhood? Be sure to check it out at night and on weekends. Neighborhoods that may seem safe during the day can change when the sun goes down. Also look around you. Are your neighbors’ homes and gardens well maintained or are there rusted cars in their backyards?
What amenities do you need nearby? If you’re looking for parks, walking trails and recreation centers, a suburban location is for you. For the local restaurant, bar and theatre scene, check out downtown properties.
And be sure to ask your sales agent about any likely changes in zoning, new schools to be built or recently approved projects that could have a negative impact on the neighbourhood.