The age old mantra of property investment

The age old mantra of property investment

Thursday, April 23, 2015

A real estate agents mantra ‘location, location, location’ is an often heard phrase that many of us may have heard of and often wondered what possesses agents to say it. The reason why it is repeated three times is to emphasize on the value of this component. It is the number one rule in real estate which most buyers often overlook. It is vital to consider that a property is in a most desirable location for a certain type of property. For instance if it is investment in commercial real estate that you are looking for then you would not buy a retail shop that is located at the outskirts of the city where no activity ever. If you are looking to buy a resale home then you would not hunt for a house near a busy local restaurant where they have visitors all day long.

Key elements of a desirable residential location

 

·     Good surroundings and peaceful neighborhood

·     Proximity to entertainment and shopping zones

·     Top-rated schools in the vicinity

·     Near public transportation, health care centers and office spaces

·     Green areas in and surrounding the property

·     Constantly developing locales

Key elements of a desirable commercial location

·     Competition in the nearby area

·     Location is easily accessible for clients as well employees

·     Suitable parking for the visitors

·     Daily footfall of that area and if it is well known to people

People invest in property because they want to get the most out of it and therefore should be very specific about the investment to choose for. Hence not to forget the age old saying ‘Location, Location, location’ as it is rule number one to property investment!