Why is Location Important in Buying Your Next Home

Location is the most crucial when searching for a home. Many factors in our day-to-day living are dependent on the location of our home. The budget, work location, connectivity, availability of public transport, presence of educational institutes, medical facilities, entertainment, and recreational options are all dependent on the location of the project. The presence or absence of all these requirements decides how favorable the location is for the home buyer and his family. Let us delve more into the importance of location considering the following points.

1. Locality

The locality is the most important factor that influences the decision to buy a home.  Within a location, different localities, suburbs, and districts can be classified as premium, mid-segment, and budget. The apartments in these locations are priced accordingly. For instance, premium localities with apartments having a sea-view charge for beautiful views while others might have well-developed infrastructure. Locations away from the city center may be classified as budget residences and may be cheaper.

2. Connectivity

Every neighborhood, locality, or suburb in a city may be well-connected or poorly connected to the important hubs. A project can command a premium depending on the ease of connectivity and development of infrastructure in the vicinity. Well-connected projects are also preferred by homebuyers and investors for the ease and comfort of living. If located in the city’s center with good connectivity, the value will be higher than that of a property located on the outskirts.

3. Schools and Colleges

Sufficient options for schools and colleges to choose from give parents one less thing to worry about for their ward’s future. The proximity of the educational institute, especially for children, is always a major factor for homebuyers when choosing new homes. This ensures that the child can safely commute to the school and is not strained due to the travel every day.

4. Healthcare

Hospitals, healthcare professionals, and dispensaries are as essential as any other amenity for a healthy and fulfilling life. One would not want to travel long distances during sickness or waste valuable time during medical emergencies. The closer the healthcare facilities the more appealing the project.

5. Recreation

A good social life is what everyone looks forward to during weekends. There should be no dearth of shopping malls, cafes, parks, museums, and places to visit within the suburb one is living in. Socializing with friends and relatives should not become a major task because you live in a remote location in the city. Choosing a location with ample avenues for recreation is essential. A city with ample choices to visit during weekends will also be preferred by home buyers.

The budget is an important factor when choosing a home that is in a locality with the best conveniences and infrastructure. Localities with all the conveniences usually charge a premium while those with limited options are cheaper.