It’s All About Location When Buying a Home
Whether you are buying a vacation home or your very first home, the decision to buy a house has long term ramifications on your future. It’s where you build a life for yourself and your family while making countless memories.
People will often consider the condition of the house, the price, and the size of the backyard when making their final decisions. One vital factor that can fall by the wayside as you get wooed by the price or how nice the bay window looks is where the house is located. It is a long-standing axiom of real estate that “location is everything.” That might even be underselling the importance of location for buying your future home.
The Future You Will Thank You Later
As you celebrate buying your new home, the prospect of reselling it down the line is one of the last things on your mind. However, your home’s location directly impacts the kind of resale value. If the neighborhood doesn’t have the best reputation or the other houses in the community are in varying degrees of disrepair, it may be challenging to move when the time comes. When you sell your home and move on to the next stage, you may find trouble finding buyers who will give you enough for a good return on investment.
School Districts Matter — Even If You Don’t Have Kids
If you already have children or are planning on having some soon, you will probably have already looked into what kind of school district is available in your area. However, those single people out there think they do not have to worry about school districts since they do not have kids to put through school — but not so fast.
If your home is located within the boundaries of a less-than-reputable school district, you could limit the number of people interested in buying your home. With families looking to expand, if your home meets all of their criteria but is located in a poor school district, chances are those families will dismiss your home, and you may have to drop your price to get more traction.
How Central is Your Neighborhood?
How close your home is to areas of interest — with varying definitions on what is a “point of interest” — can impact your future home’s value. Being within a reasonable distance to attractions such as public parks and community events, and near enough to more bustling metropolitan areas can help boost its price. The closer your proximity to these places of interest, the more diverse your potential buyer list becomes. In the meantime, you can also take advantage of these amenities and have a first-hand account of how these nearby attractions can boost your home’s value.
Are you looking towards the future and in the market for a new primary residence in Lake Tahoe or a vacation or investment property? If you answered yes, contact Luna Lending to get your free rate quote today!
AHL is an Equal Housing Opportunity Broker.
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