THE ELEMENTS OF LOCATION
When you are in the market for a home, there is an old cliché about the three most important factors being location, location and location. But, the cliché is meaningless without the details.
My advice to customers is that while some neighborhoods have a certain distinctive advantage that attracts buyers, there are often many factors relating to “location” to take into account. Among them are “school system (walking distance or bus route), access to rapid transport, availability of local shopping, and quality of nearby parks or other facilities, just to name a few. You may want an easy commute to your job or a location close to an airport.
As you balance all of the factors, remember that a location liability that enables you to purchase a great house at a discounted price will probably require you to pass a similar savings on to future buyers.