There is a commonly known saying that the most essential factors when dealing with a real estate property are “location, location, and location.” Many REALTORS® would agree that regardless of whether you are buying or selling a tract of land, a commercial building, or a home, the key to success is where it is located. And now, Guidry & Company Real Estate shares specific ways location can impact real estate transactions.
Is It Accessible and Convenient?
Keep an eye on the establishments near the real estate property to gauge its accessibility and convenience. If the property is a home, it may be a plus to be located close to schools, medical facilities, and public transportation. For a commercial property, however, the answer is different. Accessibility has the power to be the difference between success and failure for businesses. Placement near other businesses can help ensure visibility to those living there while also making it convenient for people to visit multiple places in one trip.
Is It Safe?
Even the most fantastic homes or commercial buildings are only worth the purchase if the area is considered safe. If the location of a real estate property has high crime ratings or nearby neighborhoods that are considered dangerous, it is likely to negatively affect the value. This is especially true when considering commercial properties because unsafe areas can make attracting business and staying protected difficult. Fortunately, many online resources are available to help you determine a place’s overall safety.
Is It Going to Raise or Lower the Property Value?
Location directly impacts property value. A real estate property in a desirable neighborhood will often increase in price over time and, thus, be in higher demand. Homebuyers and business owners alike should think strategically and consider investing in a property from areas with projectable growth and development. In the future, this will result in a property that is easy to market and will most likely sell for a greater rate than the initial purchase. A poorly located building can lead to the opposite effect, running the risk of depreciating in value. Avoid mistakes by talking to your Guidry & Company REALTOR® about obtaining the information to help you make an informed decision.
Get the Right Location with Guidry & Company Real Estate!
The REALTORS® at Guidry & Company Real Estate have expert knowledge about how location can affect value in a real estate transaction. We want our clients to feel confident in their choices, so we provide them with all the necessary information. Our professional REALTORS® are here and ready to assist you in finding the perfect location for your home or commercial real estate property. If you are ready to buy or sell, visit our website and give us a call today!