“Location, location, location” is an old real estate mantra that is relevant in all time period. It’s no surprise then that the location of a home is one of the most important factors in how much it’s worth! Let’s take a look at why exactly this saying applies and how different locations can affect your home value.
The Impact of School Districts
For many potential homebuyers, schools are a major deciding factor in where to buy a house. If you live in an area with quality school districts, your home will likely be worth more than if you lived in an area with lower rated schools. In fact, properties located in desirable school districts can sometimes sell for up to 20% more than comparable homes in less desirable districts! That said, even if you don’t have children yourself, it’s still important to consider the local school ratings when buying or selling a property.
The Influence of Neighbourhood Characteristics
When looking at houses for sale, people tend to ask themselves whether they would feel safe living there. After all, no one wants to move into an unsafe neighbourhood! For this reason, crime rates have a strong impact on home values – properties located in low-crime areas tend to command higher prices than those located near high-crime neighbourhoods. The surrounding amenities such as parks and public transportation also play a role. If there are plenty of nearby activities and conveniences, that can raise the value of your property significantly compared to similar homes without these amenities nearby.
The Power of Landscaping
Believe it or not, landscaping has a huge effect on the price tag for potential homes! A well maintained yard gives off an inviting vibe and helps increase curb appeal – both of which can make potential buyers more interested and willing to pay top dollar for your property. Pay attention to lawn care basics like mowing regularly and pruning trees and shrubs; these small steps can add up over time to create big returns when it comes time to sell your house!
Location plays an integral role when it comes to determining the value of a property. Factors such as school district ratings, neighbourhood characteristics like crime rates and amenities, and even landscaping all come together to form the complete picture of what type (and how much) money buyers are willing to invest in a particular home or piece of land. So next time you’re considering buying or selling real estate – remember that “location” isn’t just something realtors say out loud just for fun – it’s actually extremely important when it comes down crunching numbers and making deals happen!
