When individuals decide to buy a home, they generally have a preference for the location in which they want to settle. It could be near their rented apartment, near the workplace or the kids’s school, or they might have a fondness for that particular area because of the lifestyle or the convenience it offers. The size of the house, design, and amenities can make the house appealing, but the location surely matters when going house hunting.
The location is indeed one of the top considerations after budget when looking for a property to invest in. The size of the house, design, and amenities can make the house appealing, but the location surely matters when going house hunting. A builder could invest in a land that is far off in an underdeveloped area and can provide all the amenities, but is it worth staying there? What quality of life will it offer? How will the family adjust to the location? These are some of the questions that the buyer will have to contemplate. Let us understand why location is important while choosing a home in detail-
Why Is Location Important While Choosing a Home?
Lifestyle Choices-
Our daily lives revolve around our workplaces and children’s schools and colleges. If the location is near these places, it impacts the quality of life to a large extent as you can save time, and the travel will be less stressful. Selecting a location close to grocery stores, medical shops, and recreational centres is also a big factor in improving one’s lifestyle. In addition to these areas, other amenities like public transportation stations, parks and children’s play areas should also be easily reachable.
Safety and Security-
The location that you consider should be safe and secure for you and your family. It is imperative to notice and examine the area and surroundings to have a better understanding of the location. It is advised that crime statistics be studied and that the inhabitants of the area be looked at to make the final selection of the location.
Potential for Growth-
When selecting a location, always consider the area’s potential for growth in the future. Locations nearby future infrastructure development or expanding job markets can be great long-term investments that add value to your property and appreciate the rate of the area and your property.
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The Resale Value of the Property
It’s also important to consider the resale value in that particular location. A property in a good location is sure to increase in value over time, owing to its popularity and convenience. It is sure to guarantee a successful investment when you decide to sell it later.
- Accessible amenities- The location you select should match your hobbies and your lifestyle. If you like socialising with your family and friends and often go out for eating, shopping, or participating in cultural activities, selecting a location that offers all these within a distant reach will improve your quality of living to a large extent.
- Budget- Perhaps the most important consideration is the budget. You might have a fixed budget in mind when you start house hunting, but when you research more about your preferred location, you may have to make adjustments to your budget, too. When deciding on a location, study the property rates of that particular location and prepare your finances accordingly.
- Community living- An individual is driven by some personal and social causes, and his/her happiness is greatly influenced by the community he/she chooses. Being a part of a football club, a religious trust, a gym, etc., gives a sense of community and also aligns them with their personal interests and principles. A lot of people take part in local social causes, are part of a community and conduct events to add value to their communities. Therefore, selecting a location is important to finding like-minded people and enhancing their quality of living.
- Expansion of towns- In cities like Pune, land is at a premium because there isn’t as much room to expand. It is but natural that most cities expand outward, resulting in more affordable real estate emerging away from the city centre area. The township is relatively new in these areas and is generally equipped with modern facilities. The location may not be fully developed and co-exist with the old city. Therefore, you should be clear in your mind as to what location serves you in your best interest.
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Your home will likely be the biggest investment of your life and you will spend a lot of time and money into setting it up. Ideally you should make sure that it appreciates in value and gives you a good ROI whenever you are planning to sell it.
Buying a home greatly affects your day to day routine, safety and security, prospects for the future, and general wellbeing. Therefore location and budget stand as the most important factor while choosing a home. Your ideal house is more than simply a beautiful building or its fancy interiors.
Ultimately, it all narrows down to your needs and priorities when buying a home. It is rather hard to tell what a neighbourhood will look like in a few years and does the value of the land depreciate or appreciate. Therefore, before you finalise a home just by looking at the aesthetics of the house, take some time and evaluate its location to make sure it suits your requirements and objectives now and in the future.
Look out for Vision properties in and around Pune. True to its name, Vision Creative Group has taken the real estate sphere by surprise with its far-sighted, innovative and extraordinary approach. The group is synonymous with a genuinely customer-centric approach that enables it to meet the needs of residential and commercial property buyers across segments and budgets.
Look out for the best locations to invest in with Vision Creative Group now!
