When the search for the house starts, we all set some criteria and standards which the chosen property should meet. Undoubtedly the location is a major deciding factor of it all. In fact, the financial valuation of the property is majorly affected by essential elements related to the positioning of the property. Few of them are the proximity of a school, recreation center, Proper access to waterways, easy availability of public convenience and peaceful neighborhood. Your decision to buy can be made convenient through visiting a display home. There are very few pioneers in the market in this domain. first home builder go to https://www.b1homes.com.au/ to get an idea of the best property.. As per a recent report in www.foxbusiness.com, investors who bought property in the suggested prime locations in the city have seen high appreciation and increased return on investment within a year.
Let us now understand how location is directly related to the value of the house:
It all depends on the positioning of the property in the city which determines its rate. House situated in a locality which is highly developed and is in the process of growth and settlements, have higher prices of property. Whereas locations which are clustered have minimal scope for expansion, there is endless construction, but no habitats to take the possession. Therefore, property prices tumble down.
Since investment in property is a long-term plan, therefore future positioning of the property matters. Depending on the government plans and blueprints for prospective schools, market complexes and local transport hubs which are proposed to be built in future. These are the indicator to expect appreciation of property in future.
Neighborhood and surrounding area
Accessibility to the property is another critical parameter. Since the significant part of the day is gone in commuting from home to respective office, colleges, schools and market, it is necessary that the house is easily accessible from all the city’s main connecting roads. It should be convenient for anyone coming down for the first time to locate. Also, there should be an alternative route available to reach your house, in case the usual road is obstructed due to any reason, you can take the alternative path. Appearance does matter. Blooming greenery and maintained surroundings are essential for a happy and healthy stay. In case the house is located near a nasty plot with waterlogging and another hiccup, this may risk the health of the inhabitants.
Properties located in or around high crowded commercial streets can have a lot of noise and light disturbances. You can often face a problem of others using part of your property for general purposes like parking etc. There can also be some issue with privacy in such surroundings. Therefore, most of such houses are used for rental purposes rather than residential choice.
Therefore, if your intention behind buying a house for investment purposes, then buy a property that the value of the property appreciates in the coming years. Hence doing a detailed study of the location of the shortlisted house before making the buying decision is always advisable