Looking for the best location for your first or next real estate property? Here are signs that you’ve found a good one:
1: Good Neighborhood
The quality of a neighbourhood depends on your personal preference. But overall, there are some key factors that make up a good neighbourhood. These include appearance, accessibility, and finally, amenities. When it comes to accessibility, it should be near the main routes of the city and has more than one point of entry. It should also be near your workplace. In terms of appearance, the landscape and the overall community space’s desirability matter. And finally, when it comes to amenities, it should be near shops, grocery stores, and restaurants.
2: Promising Future Developments
Don’t just look at the existing amenities. Look into the future development of the area as well. You can scout and check if there are plans for hospitals, school, and public infrastructure and transportation in the area. Commercial development also matters as it improves your property’s value over time. Thus, it’s best to also do your research here.
3: Low Crime Rates
Of course, safety should be a priority, and if you want you and your family as well as the future buyers to feel safe in the place, it’s best to choose locations that have generally lower crime rates. Even if it’s a good deal of an investment, if safety is compromised, do think twice.
4: Easier Local Taxes, Laws, and Infrastructure
Property taxes vary depending on the location as well, so you need to ask if the property taxes of that place are low or high relative to the rent. You also have to check the rental licenses and laws of the area as they may end up being too time-consuming or complicated for you.
5: The House Doesn't Matter
When buying a property, the location matters more than aesthetics. Also, in case you’re faced with a dilemma of choosing between a beautiful home with a lot size half the size of the other option which needs lots of repairs, prioritize the lot size. A house is a depreciating asset, but the actual lot maintains its value and actually appreciates. So the bigger the lot the better in terms of investments. It might be tempting to choose the nicer one, but if you choose practically, go for what’s more beneficial in the long term.
If you’re ready to invest in more real estate properties, you can check out Apartments for sale in Palm Jumeirah, New projects by Emaar, and Emaar beachfront apartments. Just take your time until you find the most suitable deal for you.