First Time Home Buying Tips – Location Education 101

By Kent Faver

Whether you are in the process of first time home buying, or you’re a real estate pro at buying homes, the old, but wise saying still holds true… The three most important things to consider when buying a home are location, location and location. For this reason alone – location education is a “must learn” on your home buying checklist.

Most things which provide value to a home can, to at least some degree, point back to a home’s location. A great home in a bad location will never be more than an overall average home, and a stinker of a home in a great location will usually find willing buyers.

Draw upon my real estate knowledge and let me provide some locational assistance – which is one of the key first time home buying tips.

Let’s take a closer look at what this “Location, location, location” phrase really means. If you’re a first time home buyer it’s okay to admit you haven’t decided exactly which location feature is “most” important to you now as you’re looking for just yet. However, from a home value perspective, here are three key Location elements to consider during your first time home buying experience:

1) Neighborhood Location.
Many things make a neighborhood desirable, but three primary universal factors are:

  1. a) Conformity of homes to a high quality standard.
    Homes in your location should be well built and in good condition. If half the homes are in dis-repair, and the other half have become rentals – keep looking!
  2. b) Safety of neighborhood.
    Your potential location should be overall safe. It doesn’t have to have a spotless police blotter – but you better make sure convicted child predators, felons and other bad folks are in the area. There are many ways to check for this in your locational detective work.
  3. c) Good schools.
    This is very important if you have younger children, or are planning to have children. It also has proven to be a key element of many people’s home buying checklist – thus, it increases home demand in a given “good schools” location.

2) Street location.
A great home in a desirable neighborhood, but with bad access, high adverse noise influence or other negative factors street factors must be considered – or you may have trouble selling the home down the road.

3) Amenities Location
I live in a neat, little addition that is tucked away off a significant carrier and is just a couple of minutes from the local mall, restaurants, movie theatre, health club. I can’t tell you how much I love this aspect of our location. And, while I frankly didn’t even fully consider it when we built the home – the amenity location has propelled home values to very lucrative levels for homeowners in the addition.

Some folks make the mistake of finding an ideal “retreat” home that is often in the middle of nowhere. Guess what? Others may or may not have a desire to live that far removed. So, use caution when considering an amenity location – is it universal?

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