When purchasing a property, potential buyers must consider more than the physical structures and attributes of the land. Buyers need to remember that the location of the property is a huge contributory factor to its value as well. If you are considering a gorgeous property that is near a landfill and does not have access to water, is it actually valuable? Probably not. We have composed a list to make sure that you have properly considered your property’s location.
1. Have you elevated the neighborhood?
Neighborhood/Community Market Appeal. The neighborhood/community should well-maintained and well-perceived within the area. Call the local police department to make sure crime is low and research the school districts.
Convenience. Consider the driving distances to reach desirable locations. Before purchasing a equine property, drive from the property to the local grocery store, schools, personal work locations, etc.
A. What are the local natural hazards?
If you have lived near the area that you are moving to, you will likely not have to consider the natural hazards because you will already be familiar with them. But if you are relocating to a new area, conduct research about dealing with the local natural hazards such as:
- Earthquakes
- Floods
- Wildfire
- Sinkholes
- Radon
B. What are the local human hazards?
Accidentally overlooking local human hazards can be very harmful to your health. Make sure that your potential property is not close to any toxic dumps or other health hazards.
2. How does the potential property compare to other neighborhood properties?
A. Similar Use
Property values are higher when nearby properties share similar uses. For example, the value of a residential home is much higher when situated in a residential community compared to an industrialized area. Make sure that the potential property is situated where other buyers would consider buying it as well.
B. Privacy
How close are your neighbors? And would you like them to be that close? Often buyers become so focused on the physical aspects of the property that they overlook the property’s privacy.
3. Does the property have access to important utilities?
Now-a-days, we often take our utilities for granted, yet some country properties do not have access to every single utility. Double check that your property can receive the following:
- Power
- Internet
- Telephone
- Municipal power
- Municipal water
- Natural gas
- Cable
4. Is your property easily accessible?
Street Conditions. When driving to the property and exploring the surrounding area, you should be able to determine the street conditions and their adequacy.
Public Transportation. If you are planning on taking public transportation, make sure that local bus routes are within a reasonable distance of your property.
Links to Highways. Similar to a property’s convenience, being close to highways can greatly reduce your travelling times. If you are planning on driving to work everyday on a highway, make sure your property is not too far away.
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