When it comes to investing in real estate, the first and foremost factor that is taken into consideration is location.
For the ones who have bought a property and based their decision on factors other than location have always found the deal to be sour. Hence, it can be undeniably stated that location should be the primary factor of consideration while buying a house, primarily because location continues to be a hot spot, even if and when the house disintegrates.
In this article, we have made a list that will explain the importance of location in the real estate market.
> The location of a house affects and influences the value of the property in the real estate market. This is so because a house in a better locality will have better amenities like education institutes, shopping complexes, power back etc. basically, locations adds to the net worth of the house.
> Location of a property also plays an important role in deciding the security and safety of the property.Houses that are located in remote areas will be more prone to crime. It can be also stated in the way that properties that hold crime records are priced much less in the real estate market.
> Location also plays a vital role when the neighborhood factor is considered in real estate. A house might be located in a prime location, but if the buyer does not have any personal reason to be there or have emotional attachment to it, it doesn’t make much of a sense.
> As stated in the beginning of the article, location in real estate directly relates to the value of the property.No matter how mighty or palatial the house may be, if its not a prime location as per the standards, the property won’t be in the pinnacle of the list.
> However, having stated all that, real estate also runs in the aspect of probability.When it comes to location, there are calculations done and often real estate agents can presume the value of a location well before years. In such a situation, the prices of those locations tend to grow every financial year. Hence, it cannot be stated bluntly that investment in prime locations are only worthy.
In India, the real estate market is really diverse when compared to other countries. Thus, when it comes to choosing a location, the buyer is showered with overwhelming amount of information. In such a situation, the capacity of a buyer to zero down on a location primarily depends on reading between the lines of the real estate agents and the personal choice of the buyer. If at all you are stuck at a point where it is difficult to evaluate a real estate property, the best thing for you would be is to go back to the basics. Take a deep look at the location. Most likely the problem will be solved right there.
Also if you are looking to buy a flat in Bangalore, then do visit RealtyMonk.