The Importance Of Location When Buying A House
about 1 year ago
The Importance Of Location When Buying A House

Let’s face it – when searching for a new home, it's easy to get swept away by gorgeous kitchen countertops, sprawling square footage, and Insta-worthy bathroom tiles. But in the rush of finding the perfect floor plan and features, home buyers often overlook one of the most crucial factors: location.

The neighbourhood and area surrounding your potential home can actually make or break your homeowner experience. Trust us, those luxury finishes won't bring much joy if you're stuck with a nightmarish commute, noisy neighbours, or crime-ridden streets.

So, before you tour another open house, take a step back and carefully evaluate the neighbourhood and location. Here are three reasons why this should be at the TOP of your home-buying checklist:

1. Location Directly Impacts Your Lifestyle

Your home is more than just a house – it's where you'll live your life day to day. The neighbourhood influences the pace of life, safety, amenities, recreational opportunities, and commute. 

Consider factors like:

  • Is the area quiet and peaceful or bustling and busy?

  • Can you walk to shops and restaurants?

  • Are there green spaces, trails, and parks nearby?

  • What are the school districts like if you have children?

  • How far is the commute to your workplace?

If you ask us for our number one tip here, we’d say it’s to choose a location that aligns with your lifestyle needs and preferences. You'll enjoy your home so much more.

2. It Can Greatly Impact Resale Value

While you shouldn't buy a home just for investment purposes, resale value does matter. Certain neighbourhoods have higher demand than others, leading to a better return come time to sell. 

Meanwhile, highly rated school districts are a major draw for families, whilst walkable areas near amenities also hold value better. Don’t discount parks and playgrounds, either.

3. Local Laws, Taxes, and Insurance Differ

Seemingly small factors like local taxes and insurance rates vary tremendously based on the neighbourhood. You don't want to discover sky-high property taxes after moving in, so dig into the numbers before making an offer.

Keep location at the forefront of your mind. Don't let the pretty paint colours and kitchen backsplash distract you from finding the right neighbourhood.

4. The Quality of Nearby Schools

If you have children, the school district should be priority number one in your home search. Top-ranked schools lead to better educational outcomes, higher home values, and can even save you money on private school.

Research academic performance, class sizes, ratings, and extracurriculars to understand the potential of the facilities around you. Also, consider the proximity to schools if your kids are likely to walk or jump on their bike. 

Finally, don't just rely on school ratings – visit classrooms and talk to parents to get a genuine insight.

5. Safety and Crime Statistics

While no area is completely crime-free, statistics clearly show some neighbourhoods deal with more criminal activity than others. To ensure you know what you’re getting into, look not only into property crime data, but also reports of assault, robbery, and other violent offenses.

You can easily access local crime data online. But also trust your instincts – visit the area after dark and see if you feel completely at ease. You could even ask the local police station for insights.

Plus, our real estate agents will also guide you through the area's reputation, so you know exactly what’s in store.

Final Takeaways

At the end of the day, try not to let the flash of fancy finishes distract you from what truly matters – the location of the home you may just buy. 

Where your home is located impacts almost every aspect of your life – from your commute, safety, recreational options, and even resale value. Before making real estate decisions, carefully evaluate key neighbourhood factors and talk to your property manager or agent for detailed insights. 

Doing your due diligence is always worthwhile. 

Contact us to get the latest on your prospective neighbourhood.