Back

What Makes a Location Good?

03/01/2020

What Makes a Location Good?

All major cities of Pakistan show stability and boom in realty sector since the current government has taken over the central position in the federal capital. And during real estate boom, who does not want to buy almost any house that hit the market? However, the seasoned buyers know this boom does not last forever, and when the party is over, only those homebuyers who bought homes at the best locations hold them because these properties depreciate at a slower rate.

Location is the best factor when it comes to investing in real estate. However, most of the people do not know what an ideal location really means? A home is much more than just an investment so people do not always look at this factor every time. However, next time when you are shopping for a new property, keep the following factors in mind.

Centrality

Where you plan to live within a city will definitely affect how much you pay for your home. Land is a finite commodity so major cities in Pakistan that are highly developed and do not have much room left for expansion, tend to have higher prices than cities that have room to expand. At the same time, some of these societies have homes that are uninhabitated and areas that have been fallen out of demand.

Neighbourhood

The neighbourhoods that appeal majority of the people will mostly be a matter of personal choice. However, a great neighbourhood must have a few key factors such as accessibility, appearance and amenities. In terms of accessibility, the society must be in close proximity to the city's major routes. Commuting to and from work is a big part of majority of people’s day - so a house with easy access to roads or public transportation will be more desirable than the one that is located in far flung area. Secondly, the appearance of the area also matters a lot. Parks, landscaped outer spaces and symmetrical homes make any place more desirable. A great neighbourhood must also include amenities nearby homes including grocery stores, shops and restaurants.

Development

Not just the present amenities matter when it comes to choosing a perfect home but it also matters that what future holds for this neighbourhood. Not just the maintenance of present infrastructure but the future plans for infrastructure development, schools, hospitals, public transportation can dramatically improve the property values in the area. When you are planning to buy your home, try to find out whether any new public or commercial development is planned or not. If yes, then see how these transformations can affect the surrounding areas.

Location of home

You must also consider where the house is actually located. Meanwhile, there are few things that you keep in mind while conducting your search. If the house you intend to buy is located on a busy road, you may able to vouch it for a lower price but remember, it may get difficult to sell later on. The same may hold true for the houses located in close proximity to hospitals, fire station, commercial entity or school.

Location is proved to be the most important factor when it comes to buying a home. Remember, when it comes to buying a home, make sure the neighbourhood is not just desirable to you but has objective qualities too including safety, modern amenities, and good schools that will surely help your investment appreciates over time.

Share On:



Relevant Posts

Questions First Time Buyers Must Ask the Agents
Read Post
Why is Live Chat Important for Real Estate Business?
Read Post
What You Must Do before Renting out Your Property?
Read Post