The most important aspect of real estate that is overlooked, often, is location. However, some people are picky when it comes to the location of a property.
Houses for sale Lincoln
Are you looking for houses for sale in Lincoln? We can help you find the best deal on your most prized asset. Contact us today for a consultation.
Is there anything like a bad or good location?
Before you finalize a location, remember that no neighborhood stays good or bad forever. Change is constantly happening in towns, cities, and suburban communities. Change has the power to transition one of the least desired communities to “up and coming” ones in a short timeframe.
Yes, just like good neighborhoods, some neighborhoods might not blend with your lifestyle choices, making it difficult for you to continue living in that location for a long time. Besides lifestyle choices, there are many other aspects that you need to factor in before choosing a particular location.
The real estate industry has been experiencing a boom since the pandemic started. According to real estate experts, there has been a change in the usual pattern of homebuyers. Today, a greater number of millennials are keen to invest in property. This explains why there has been an increase in millennials investing in the real estate sector in this last year or so.
Builders are largely focusing on shaping the desirability of a location to fulfill the needs of millennials. Millennials closely examine transport, schools, and the community before they pick a location.
When you comb through a neighborhood, rather than focusing on its current state, think long term.
Consider what the future looks like for this community.
In this article, we will take you through some of the factors that you can consider when evaluating a location.
-
Neighborhood
One of the first and foremost factors that you need to consider when buying a home is the neighborhood. Your neighborhood will have a major impact on you and your family. You might not be able to scan every minute detail of your community, but there are a few factors that you can consider, such as appearance, amenities, and accessibility.
The size of your property is dictated by your neighborhood up to some extent.
-
Accessibility
When it comes to the accessibility factor, your neighborhood should be near the city’s major location or transit routes (with multiple entries).
Look for a house that has easy access to public transportation rather than one that might be tucked away, with just one entry point.
Is the neighborhood appealing?
A desirable neighborhood features greenery (trees, parks), landscaping, and others. If homes in that area stay too long on the market, you need to start looking for another place as it is not desirable.
-
Amenities
Also, look for amenities like restaurants, shops, stores, or groceries in the neighborhood. If you can’t find these amenities at a convenient distance from your home, then the location is undesirable.
Whether you have kids or not, check for good schools in your neighborhood because potential buyers in the future might lookout for schools. The distance of schools from your property and their quality need to be considered before you choose a location.
-
Safety
Safety should be of utmost importance when you choose a location. If the neighborhood has a low crime rate, this is the place for you.
-
Commercial development
While you examine the present amenities, consider what the future looks like. What does the town planning look like? Are there plans for new public transport, civic infrastructure, hospitals, and schools? If there are plans, the property values will climb up in this location. Besides, look for any commercial or residential developments happening in the surrounding areas, as these will dramatically improve the desirability of the location, where you’re shopping for homes.
-
The house
Most people tend to narrow their house hunting to multiple choices: some might even narrow it down to one or two houses in a desirable neighborhood.
Let us say that you have found one house that needs some repairs and upgrades, and this house comes with a huge lot. However, the other one is a brand-new home, and in great condition. But it sits on a lot that is half the size of the other one. The prices of these homes are similar.
Which one will you choose? Though the one that is in tip-top shape is desirable, the fixer-upper will be a better investment as a house is always a depreciating asset. When it comes to the fixer-upper (home), the lot will help retain its value. You can always upgrade a less attractive home, but the lot can’t be dealt with.
Closing thoughts
Consider the above factors when you zero in on a location. But, you will need to do extensive research to understand the qualifying traits of a location. Talk to the local people and understand their views.
If you are looking for a property to buy or sell in Lincoln, we can help. Contact our team at Location Lincoln for details.
