5 REASONS WHY LOCATION IS IMPORTANT IN MAKING A REAL ESTATE INVESTMENT CHOICE.
Location is a major factor that affects a plethora of results in life. Therefore, it must be put into consideration in every move and more so in making a real estate investment choice.
“Positioning is very critical to our final destination…”Jide Adekola
For every realtor, the three most important factors advisable for clients to consider while in the market for a property is location, location and location. Location can make or mar the user experience of a real estate project and it can also detect the caliber of clients attracted to the property.
After years of mastery and experience in the real estate industry, we have arrived at five (5) reasons why location is important in making a real estate investment choice and they include:
Quality of life / business: location plays a major role in the quality of life of a family, individual or business occupying a given property.
The location of a property sets the tone for the user experience; this entails the quality of neighbors one will potentially be exposed to, the caliber of clients a business will garner also heavily depends on the location.
Accessibility: accessibility is a game changer in the real estate market. It encompasses the road network leading to the property and other essential amenities accessible to the inhabitants of the property.
When looking at a prospective property, clients consider how accessible the property is to grocery shops, markets, hospitals and public transportation facilities.
Asset Value: value wise in the real estate market, acreage trumps house design. It is the most important driving force behind the value of a property. When making a real estate investment choice, the future appreciation of the asset is of utmost consideration and location is a huge determinant of the future asset value.
House design can always be remodified but location is permanent.
Future Infrastructure Plans: A project has the potential for future appreciation in value, when it is situated around upcoming infrastructural projects. Planned upgrades for roadways and commercial development will have a positive impact on the location.
Security: the security of a property goes beyond the actual physical security of the living / working space but the general security framework of the area on a larger scale . This is tied to a larger sense of the general sanity and safety in and around the macro area . This is a key factor that subconsciously defines a good choice of real estate investment .
These factors are very key factors to consider for every client looking to invest in real estate on a residential or commercial basis.
These factors if not carefully considered, can make or mar your living experience or that of your tenants and as a result further affects your investment and that is where we come in.
At Homework Group we painstakingly go through a thorough process vetting any location before going ahead with our projects . This always helps to solidify the investment choice indirectly to intending investors .
Most times the benefits of the location still linger years after the purchase .