Market experts consider real estate a booming and profitable investment sector. And why it shouldn’t be— factors such as population growth, urbanization, and economic growth are shaping its trajectory.
So much so that investors can expect a good ROI on every penny spent in real estate. While it’s an excellent opportunity for real estate investors, how can homebuyers make the most of it? Perhaps, by finding a property located in a good neighborhood. Did that confuse you? Here’s an example:
Suppose you’re searching for luxurious Villas for sale in Dubai. You check out amenities, features, and prices. Everything seems to fit into your budget and expectations. You go ahead and sign the contract. BUT, the location appears far away from essential stores such as schools, grocery stores, shopping malls, etc. Moreover, there’s no medical facility even within a 30-minute drive.
Does that sound like a property-buying nightmare? If yes, read on to know the factors of a good location in real estate. But before that, here’s why location should be your top priority while purchasing a home.
Table of Contents
Location, Location, Location
Okay, that sounds cliche. But is it? Absolutely no. There’s a reason why experts follow the location, location, location mantra while deciding the value of a property. Because the address is permanent. Whereas the style of a property can be changed anytime you can remodel or renovate it according to your taste.
Still, location is not easy to modify unless the government plans a development project. Therefore, check if the neighborhood is suitable for convenient and comfortable living. Also, find if there are any security threats. Once you check all these points, you are ready to buy your dream home.
Nonetheless, here are 3 factors of a suitable location that every buyer on a house hunt must consider:
Accessibility
Your house looks great and has top-class amenities, but you need to drive 30 minutes to get your groceries. That’s why accessibility is an essential factor. If your house is located far away from the city, your daily chores will become a hassle. Therefore, you must look for a suitable location that provides easy access to schools, shopping centers, medical facilities, and transportation hubs. Not only it makes daily life much more convenient, but it also reduces the amount of time and money spent on commuting.
Safety
Hassle-free access to essential shops and a spacious villa in Dubai, but it’s prone to thefts. Do you want someone to trespass on your property in the middle of the night? That’s why Safety is a top concern for many homebuyers. It would be best to consider crime rates and a neighborhood’s overall safety when choosing a location.
Future Development
Presently the neighborhood has a lush green park surrounding the residential homes, but the government plans to turn the park into a commercial hub. If your priority is to live in a serene environment away from the noise but at a convenient location, devote a few hours to finding any potential plans for future development in the area, such as planned construction projects, new businesses, etc.
These coming changes may impact the value of the property. This information can help you as a buyer to determine whether a location is suitable to your expectations, decide its value over time, or if it may face challenges such as increased traffic or declining property values.
Wrap up!
Clarifying the pros and cons of a suitable location helps you invest in a property that matches your goals. So, whenever you search for a property for sale Dubai, consider the above factors to find a safe, secure, and suitable location.
