 |
Home Location
There is an old saying when buying real estate—"location, location, location." The newest, nicest, best-built house in the world could lose its market value quickly in a poor location.
Some obscure or "hidden" factors can influence a location's market value. For instance, in the nearby State of New Hampshire, the schools are funded by each city or town. 45% of a town's expenditures could be to pay for their primary school, and 25% for a nearby regional high school. A town that has a burgeoning population might have to build a new school and increase property taxes to pay for it. A high property tax rate could influence the market value of all the homes in that town. It's a good idea to research as many factors as possible when looking for the right location of real estate.
The following are some factors that may influence the market value of a home's location:
Some Home Location Factors
- Adjacent Towns, Not In Decline
- Air Quality, Not Polluted
- Ambulance Service, Nearby
- Airport, Nearby
- Churches, Nearby
- Climate, Not Extreme
- Commercial Real Estate (Nearby), Not Expanding
- Crime Level, Low
- Daycare Services, Nearby
- Fire Department, Nearby
- Flood Zone, Not Located In One
- Highway, Nearby
- Homes, Prices Comparable
- Home Values, Positive Trend
- Hospital, Nearby
- Neighbors, Maintain Their Homes
- Noise, Minimal
- Police Department, Nearby
- Privacy of Lot
- Property Taxes, Low
- Public Transportation, Access
- Recreation Outlets, Nearby
- Schools, Nearby
- Schools, High Academic Standards
- Shopping Malls, Nearby
- Terrain, Not Extreme
- Taxes, Property, Not Excessive
- Town, Financially Stable
- Town, Planning Good
- Town, Services Good (Snow Plowing, Refuse Pick Up)
- Traffic, Minimal
- Utility Company, Planning Good
- Views Available, Mountain or Water
- Water & Sewer, Not Expensive
- Water Access, Lake, Ocean, or River
- Water, Flood Zone, Need Flood Insurance?
