Three Tips to Buy a Home: Location, Location, Location - Chris Smith Realty

Three Tips to Buy a Home: Location, Location, Location

Posted on Dec 14, 2016

The right home location creates desirability, which creates demand, and demand my friends, raises real estate prices. When buying a home, think of resale value. And resale value is nothing without location!


Here are some considerations for choosing the right location:

What is the demographic of current homebuyers? Is the area you are considering desirable to the current demographic of homebuyers? If yes, this demonstrates demand for the area and demand increases real estate value and prices.

What is the reputation of the schools of your desired location? Even if you will not have children attending the local schools, this is an important location choice for most homebuyers. What is in the future for the school system? Will there be an expansion? What are the ratings of the schools in your district? A home in a highly sought after school district can be a very desirable home.

What is the time and cost of commuting to work? You spend at least 1/3 of our day at work, you don’t want to spend another 1/3 commuting! Check out how you will get to work and the options you will have if there is a sudden halt in service. Commuting options can vary based on your location in town. For instance, in Colts Neck, NJ, folks that live on the west side of town typically access Highway 9 to reach the NJ Parkway and Turnpike. Folks living in the center and east side of Colts Neck have a more pleasant and faster trip to the same destination via Holmdel Road and other access points. Consider access and proximity to transportation as an important factor in location choice.

Shopping, Healthcare, Entertainment, and Grocery Stores. Buyers typically look for these services to be within a 10-minute drive. Purchasing a home within this radius will add value to your home. Consider the local place in town where everyone gets coffee? Would that be a convenience or a stretch for getting to work on time?

Sights, Sounds, and Smells. Years ago one of my friends discovered that a house she was looking at was the childhood home of Meryl Streep. That was very appealing to her until her husband reminded her that at the time Meryl Streep was growing up there wasn’t sound walls and Highway 78 at the end of the street! The sights and sounds of a local highway or flight patterns of a local airport would not be a desirable factor for your location.

Likewise, would the location be near any commercial property or business that would emit an aroma – good or bad – that you would prefer not to smell all day.

The icing on the cake – Will you be close to family and friends? This may not add to the desirability of your home to future buyers, but this should be an important consideration, particularly if you have family members that you care for.

Wherever you choose to buy a home, remember you want to feel at home. Take your time to drive around town at different times and days to get a feel for the neighborhood. If you don’t love it, keep looking.

I am happy to help you discover desirable homes in New Jersey. Feel free to call me anytime. (732) 320-2431 or tdefazio@chrissmithrealty.com.

 

About the Author: Thomas DeFazio is a full-time Realtor® at Chris Smith Realty in Spring Lake, New Jersey serving Monmouth and Ocean Counties.

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