When shopping for your First Home, few families will compromise on Location. Have you heard Real Estate Agents refer to the saying, “The three most important aspects of real estate are: Location, Location, Location”?
That’s because it is vital to ensure a property is in the most desirable location for the type of property it is and your lifestyle.You can make improvements to the house like getting new appliances in the kitchen, remodel the bathroom or get a new roof. You can even go to extremes and knock the whole house down and build a new one, however, you cannot change its location.
So the question remains: What determines if a property is in a desirable location?
An appealing location will have several components, one of which is the neighborhood. If the neighborhood is unpleasant with noisy and problematic neighbors, then most people will not want to live there. The design of the neighborhood is also relevant. Is it near a busy street, or are the houses too close together? Here are some other factors to consider.
City vs. Suburb vs. Rural The setting you choose within the city or town you select will affect the amount of peace and quiet you have, lot size, education options for your children, proximity to shopping, entertainment, medical services and anything else you might want or need, and more.
Affordability Another component that makes a location desirable is the overall affordability of homes within a neighborhood. A homeowner’s budget is a very relevant part of the home buying process, and some may choose to live in a less convenient location because of price.
So be sure you talk to a mortgage professional first and get Mortgage Pre-Approval before you go shopping for your First Home.