Buying and Selling a Home: Location Matters!

We’ve all heard that, when it comes to buying or selling a home, the three things that matter the most are “location, location, location!”

And while this is good wisdom to heed, it’s also possible to overlook just what “location” means in the first place – because, surprisingly, there are a lot of factors that go into it; and not all of them are obvious. Let’s explore the factors that combine to make a house enjoy the prestige and benefits of location, location, location!

Location Factor #1: The Land. While it goes without saying the condition and functionality of a house is critical to its value, the land that it “sits on” is also important – sometimes even more important than the house itself when it comes to making a house stand out and be desirable compared to other houses on the market. So look at the land and get a sense of its past, current and future desirability. You may pay a small premium to get “better land” when you buy a home, but it can certainly pay off handsomely down the road.

Location Factor #2: Facilities and Amenities. How close is a home to malls, movie theatres, playgrounds, museums, arenas and other sporting facilities, fitness clubs, grocery stores, and seniors’ centres? All of these answers help you understand whether a house is in an ideal location. Remember, even if you don’t personally plan on using all of the services nearby (perhaps you don’t have kids and don’t care about how close a home is to schools or playgrounds), these are factors that future buyers may find very attractive – or even critical to their decision to choose your home instead of another.

Location Factor #3: Infrastructure. Things like city water service, sidewalks, even snow clearing (something very important in Edmonton!) are all factors that help determine a home’s value and desirability. So is proximity to fire stations, police stations, hospitals, schools, and even the airport or train station.

Location Factor #4: Neighbourhood. How desirable is the neighbourhood? What is its historical and projected value? Are people “paying too much” because a home is in a certain area, or is that a wise investment that will help boost a home’s resale value and attractiveness in the future? These are important questions, and they should all be explored before a buying decision is made.

Indeed, as you can see, location is a BIG factor in choosing a home. But yes, it can be confusing and overwhelming to make sure you cover all of the details, and make sure you’re paying attention to all of the factors that add up to location, location, location!

As an experienced Edmonton Realtor, I help make the home buying process simple, easy, focused and built around you. I’ll help you understand the ins and outs of “location” so that you can make a smart and satisfying home buying decision. Call me call me at 780-709-0811. I’m here to help!