We hear it so much it’s almost boring. Location, location, location – that old chestnut! The phrase, after all, has been in use since at least 1926 and still remains vital today. In a nutshell: make sure you buy in a desirable area.
Some real estate agents recommend that clients purchase the worst home in the best neighbourhood, as this will give them a great return on investment. This is because it will be easier to sell if work is done on the property to get it up to scratch. When you buy a home in a fantastic location, nine times out of ten it’s a solid long-term investment.
Here are five factors to consider when buying a home in a great area (if you can get all five you can do no wrong!)
1. Close to transport links
There’s nothing more annoying than coming home late at night and having to walk many miles home. Particularly through dark and twisting streets! The closer the property to key transport hubs and thriving commercial districts; the more someone will pay for a home. Being near a train or a bus link can get you anywhere in a short period of time in the city. And out of town where commuting by car is inevitable, good access to a motorway indicates a strong buy. Needing an extra half an hour to get to a key freeway is not going to help when it comes to selling a property.
Everyone’s concerned about crime; it’s important to feel safe in your neighbourhood. Property that offers this kind of security is always a great bet. Where people feel able to walk around outdoors, interact with their neighbours and not feel threatened, property prices are higher. Crime rates are one of the first things people research when looking for home – something to bear in mind.
3. Great schools
It’s important to purchase a home in a strong school district even if you don’t have children. This is because young families will always look for a good catchment area when they look to buy a home. If you’re looking to make a resale at some stage, it’s best to be aware of this.
3. Convenient access to amenities and commercial hubs
Proximity to commercial hubs in towns and cities helps when it comes to selling property. If you’re just a walk away from grocery stores, supermarkets, sports centres and bars and restaurants; you can guarantee that your property will be in hot demand if you put it on the market. Commercial property throughout London is certainly in demand, including Kensington, St James and office space Mayfair, so without a doubt luxury property in these areas, for example, make for a great opportunity.
4. Access to green spaces, rivers and views
Riverside living in London is very popular at the moment. Luxury developments are highly sought-after that are situated by the Thames. Green spaces is another vital component that people consider when it comes to purchasing property. If you’re close to parks, rivers and the property has panoramic views; you’ll have no trouble reselling your property.
Thanks to Eden Harper, a real estate agent in Battersea.