Would you rather buy a great house in a remote location, or a decent house in a thriving one? The answer to this question lays the brass tacks to your successful investment in real estate. More often than not, first-time investors lay little to no emphasis on the perfect location, and end up compromising on their ROI. Experts say it right: the three aspects to a successful real estate investment are location, location, and location.
Here are four compelling reasons why you should prioritise the location before you bet your money on an investment:
Imagine living in an awesome apartment, but with no ease of connectivity to other important hubs of the city. The rates of properties that are in the midst of a bustling environment with superlative connectivity are always a better investment subject than those that are not. Simply put, a great location ensures an excellent road network so that you’re always connected to all addresses important to you.
Check if the property you’re interested in is either already in a bustling commercial zone, or is in the process of getting one. Commercial surroundings spike up the prices of a property, as they’re usually more in demand than the ones that are located far away from thriving hotspots. With malls, hospitals, entertainment avenues, schools and colleges in your property’s vicinity, the prices are sure to go up with time.
If you’re purchasing a property from a residential perspective, a feeling of safety and security could not be overstated. You and your family members need to feel safe at all times, so that you all can enjoy your lives without worrying about potential crimes in the area. Moreover, if, someday, you decide to sell the property, it’ll be much harder for you to find a buyer for a home that comes with no promise of safety.
The whole purpose of investing in real estate is to reap great returns over a period of time. A property in a location that encapsulates the afore-mentioned aspects is already more desirable than many others. Check for price trends in the location you narrow down, and study its appreciation over the years. That, will give you a clearer idea of how much ROI your property is capable of.
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