Location, Location, Location: Part 2

Today I leave you with three more things to keep in mind when considering the location of a possible property purchase.
Amenities
There are certain places most individuals will need to go to on a regular basis. Kids need to learn and parents will always prefer their child to walk a couple of minutes to school rather than take a long bus ride or need to be driven. Similarly, everyone needs to eat. If a buyer will need to drive a ways away to get to the closest grocery store, they will certainly expect to pay less than a similar property which is a short walk away from a supermarket. The same goes for malls, restaurants and shops.
Roads and Shops: The Closer The Better…To A Point
While buyers will have a stronger demand for homes near roads and shops, this demand declines sharply if the property is directly on a major road or right beside a large shopping area. These properties will be surrounded by abnormally high levels of traffic and parked cars, things that will ultimately lead to lower house values.
Plans For The Future
The characteristics of an area are by no means fixed. Knowing as much as you can about the future plans that have already been signed off on in the neighbourhood will allow you to predict how those plans will affect housing prices. If a new hospital or school will be built near a property it is safe to assume that the property will increase in value. The same could be said about plans to improve public transportation or develop a commercial area. Sometimes future plans might have a negative effect on property values. Obviously, if any of the aforementioned plans are built extremely close to a property, demand for it will weaken, as outlined in Point #5.
Ultimately, knowing what people mean by a good location will help you make a better decision when it comes to buying a property. These six tips will help you better choose a property that will hold or increase its value over time. Of course, once you’ve chosen the best property available, choose Canadian Mortgages Inc. for your mortgage needs.
Have a good weekend!