Housing is the personalized choice where personal requirements and preferences are distinct with different people.
The Location is termed as the king factor before investing in the real estates. There are various sub factors which come under 3 A's : appearance, accessibility and amenities. The personal requirements and preferences are distinct with different people, but there are certain factors which account in the prices of the real estates.
1. Overall Growth:
Where you select to live in a town affects indirectly how much you will pay for home. The places that are advance developed and don't have room for any additional growth, tend to have higher rates than the places which need a lot of growth to expand.
2. Types of Neighbourhood:
The amenities such as,
Green spaces :
The green spaces play an important role in the quality of the air and water. Large trees, gardens & parks make real estate more attractive to live under a greenland.
The important amenities like stores, shops, and groceries are taken in account of how much distance they are from the house. It's obvious that if you have to travel to get the basic things, that location becomes less attractive.
Schools are the other amenities which most of the buyers need. If some buyers have kids, they will consider the less distant property from the school. The quality of the schools and distance from the living space are crucial factors.
A neighbourhood that persists low crime rates and is a safe place for traversing and commuting.
3.) Traffic area:
The noise and crowd, these two are crucial to live in peace and tranquility. If the living space is near to the highways or busy roads, the rates of the properties deteriorate. The same thing holds for the houses besides the commercial properties.
4.) Commercial development:
The civic infrastructure can dramatically improve the property values. Its not just the basic amenities but the emergency requirements that also come in consideration such as Hospitals, public transportation, schools, shopping malls, business hubs in the surroundings of the house.
5.) Water view:
The research claims that the people living near the water bodies are more happier and at peace than the other places. The serenity and silence water gives is the prime factor why people wanted to live near the water.
Commuting to and from work is a big part of many people's day. So the house with easy access to public transportation and roads will be more preferable than any factor.
7.) House Infrastructure:
Let's assume you have two choices that have a great neighbourhood and prices of both are the same. The difference is one needs repair and updates but has a huge space, and another one needs no repairs but has a smaller space. Which house is mostly chosen by the buyers? The one house which needs repairs and has a large space. The reason behind this is that the house is the asset and the houses can be repaired but it is difficult to extend its space.
Housing is the personalized choice where it depend on person to person for the above criterias. When you choose a home, the neighbourhood should not alone be taken in account, but the infrastructure, development and commercial property near it should be considered before buying the property.