There is an old saying in the real estate business that the three factors that determine the value of a property are location, location, and location. It appears that the old adage is still true. In a recent national survey of homebuyers, 67% indicated that location was their first consideration in choosing a home. Another 16% indicated that size was the first factor while an additional 16% said that price was their primary concern.
Why is location so important?
The proximity of a home to places of employment has traditionally had a big influence on where people decide to live. Many communities that are primarily residential came into being as a result of a relocation of a major business or plant to the immediate area. Many homeowners want to avoid the problems and frustrations of commuting a great distance to work.
The quality and reputation of the local school system can have a dramatic affect on the desirability of a particular area. Some people interview principals of the elementary schools to determine the teaching philosophy and staff competence in each area being considered. The reputation of certain high schools also greatly effects home buying decisions. If you are buying in a certain area because of schools, be sure to verify that the home you are considering is in the desired school boundaries. Some chool boundaries wind through a subdivision including some homes and excluding others in the same neighborhood.
Various locations offer different lifestyles to homeowners. Country living is the only way to go for some people. They are willing to deal with longer commuting distances o that they can enjoy the wide open paces. Still others like close-in locations where they can enjoy the life of the city dweller.
If you are relocating to the Charlotte, NC or Lake Norman area, Fran Lucci is your choice for local expertise!