Location is one of the most important factors in real estate. You might find a beautiful house with all the space and amenities, but the property is located in a less desirable location. This will have a big impact on the home reselling value. You can do home upgrades and renovations, but you cannot change the location. Hence, it is essential to consider this before investing in real estate projects in Ranchi.
Importance of Location in Buying Properties
1. Proximity
This reason is likely to top your consideration list. Before buying a new home, you should make sure of its proximity to all essential facilities. Do thorough research to search for schools and educational institutions to your liking. The proximity to hospitals, shopping centres, medical centres, malls and recreational facilities is equally necessary. You should expect all this before selecting a home site.
2. Future of the neighbourhood
Every homeowner wants to buy a property in a good and safe neighbourhood. If you are a first-time buyer, you should not only consider the current status of the property. Rather you should pay attention to the future of the neighbourhood. The experts term it as reverse engineering of the location. Just because the location is safe now does not mean it will be the same in future. Hence, this is an important question which you should ask yourself.
Consider the future potential of the neighbourhood before investing in a property. This way, you can benefit from excellent value appreciation.
3. Crime rates
Crime and safety should be on top of your priority list before evaluating the home location. No person wants to live in a neighbourhood where crimes are rampant. You should research thoroughly before deciding on the property location. You can take help from the real estate agents to search for a safe location. They will assist you in finding the crime rate of a particular area to make better choices.
Most of the residential projects in Ranchi are built in safe locations. The managers ensure this, keeping in mind the homeowner’s convenience. You can also buy properties with gated communities where crime instances are minimal.
4. Transportation
Another criterion that creates a good impression of real estate properties is the availability of transportation. The homeowners should check this before investing in real estate. You should buy a home within walking distance to the restaurant, grocery store, shopping centres etc. However, accessibility to public transportation is equally necessary. You should find it easy to travel around the busy city, even if you do not have a personal car. In cities where traffic is too bad, easy transport availability helps in swift commute. Keep this in mind before you buy a new home.
Location or House: What is Important?
The location has a big effect on home value. Certain factors decide whether the location is convenient – proximity to the airport, shopping centres, educational institutes etc. The closer you are to the convenient spots, the highest is your home resale value. Besides, it also helps if you want to rent your property.
Finding a good home is a matter of patience. You should consult the experienced real estate developers at Loyala Group to buy properties in the safest and convenient locations.