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What Tells a Good Real Estate Location From a Bad One?

By Kimberley Kelly 27 Oct, 2011 Guest Blogs location

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An important decision that people looking to buy homes need to make is regarding the location of the property. It can be pretty challenging to tell a good location apart from a mediocre or a lousy one?

Say, if there were three different homes that were absolutely identical in shape, size and build, the location would, in such a hypothetical scenario, be the most important factor that would eventually determine the market value of your home over time.

Location plays an important role in determining the long term market value of your home and is yet the most overlooked factor.

Ideally, you should look for the houses that offer the following in their vicinity:

Desirable Locations

• Best-rated school zones

Many families, especially with kids, would be concerned about finding houses within or close to the school zones. Eventually, if you consider selling your home in the next few years, you would potentially find many such families willing to pay more just to get closer to the schools.

• Proximity to Recreational Spots and Natural Parks

Homes that are in the vicinity of an ocean, a river or a park, would generally retain their value because these locations offer a lasting appeal to people looking to purchase homes.

• Homes with a Killer View

A house that offers a beautiful view is often sought by many homebuyers. A good stretch of sea visible from the yard or the skyline visible from the rooftop both qualify as killer views.

• Proximity to Shopping and Entertainment Areas, and Business Centers

A house located near the major shopping and entertainment areas as well as business centers are also liked by many homebuyers. The idea of walking to enjoy a nearby nightlife sounds more appealing than having to drive everywhere you need to go.

• Houses in Safe Neighborhoods

Nobody wants to live in an unsafe environment. For this reason, if your neighborhood is known for its notoriety, many homebuyers would be reluctant to purchase a home in that area. Over the course of time, the property would lose its market value.

OK, so these are some of the locations that are really sought after by homebuyers, but how to identify locations that people would certainly want to avoid owning a house?

Undesirable Locations

Many homebuyers, when considering a location, would go at lengths about a single undesirable factor about the location. As such, it is very important to ensure that you carefully evaluate any location for the following undesirable factors:

Proximity to Industrial Areas

People generally refrain from paying too much money on buying houses near industrial areas and noisy surroundings. People also look for sites that are not frequented by trucks, especially at nighttime.

Near Freeways and Airports

Again, these locations are undesirable because of all the rumbling and racket. Having to bear with the noise of airliners can be a very frustrating experience, especially at night.

In High Crime Neighborhoods

Safety is an important factor in buying a home. People want to feel safe in their homes and neighborhoods known for high-crime rates are the least-favored option of many homebuyers.

About the author: Mike Pannell is an Dallas Texas real estate agent helping both sellers and buyers complete their real estate transactions. For more blogs & articles about the Dallas real estate market & Mike Pannell please visit our Dallas Real Estate blog.