Whether you’re a serial investor or a new homebuyer, you’ll agree that investing in the right location pays both now and in the future. With lots of property listings at your disposal, you could almost get carried away by other features and forget the most important yardstick- the location. After all is said and done, the investor or home buyer who chooses the best locales will be happy for it and they will be securing the most valuable property(s).
Consider this for a minute:
If you live in Lagos State for instance, and work on the Island, you’ll probably prefer to buy a new home that isn’t too far from where you work. Because you’re also considering your convenience to work daily and of course the security aspect to it. A good location is relative and while we cannot all have the same preferences, here are 5 basic tips that can help you make the best choice.
Let’s get started!
The Neighborhood
A good neighborhood is one of the most important factors to consider, you should want to know if the property is situated in an accessible location. The appearance of the neighborhood is another factor to take into consideration. Is it somewhere you can proudly ask others to visit? What’s the place like when it rains? By finding the answers to these questions, you’ll become more clear on what you really want.
Also, look around for places like the grocery stores, if you cannot find any around, it implies that you might have a long journey to travel every time you need to quickly shop for groceries.
Does the neighborhood have a low crime rate? Find out for yourself, for your safety, and that of your loved ones.
A Central Location
One of the benefits attached to getting a property in the right location is its centrality. Where the property is located will definitely affect its price, but if it’s a high-value site you can tell that your investment will yield multiple returns if you have to sell it in the future, for any reason.
Development
In choosing the right location to live in, you’ll need to check how developed the place really is. Are there basic amenities and is there a chance that development will finally extend to the location?
If you plan to buy a property in an undeveloped place, you’ll still need to consider this factor. You can as well check around to see if there are landmarks that could eventually open up the location. For instance, if a university is within the area, there’s a probability that it’ll become more developed as more people study and live there.
However, if you plan to buy a house in an undeveloped place, with the hope that people will relocate there someday, that’s a risk on your part.
The Property Itself
If it’s a house that you want to buy, have a clear idea of what you want. You may decide to opt for a flat, 3 bedroom maisonette apartment, or even a 4 bedroom maisonette terrace Duplex. Ensure the building is one that meets your standards in location and aesthetics since that’s where you’ll be spending a better part of your life.
If it’s a land, then you want to find out if it’s waterlogged or prone to natural disasters.
Basic Amenities
If you want to buy a property, why not get one that already has the most essential amenities, instead of waiting on the government to make it available- what if they are unable to? In Lagos State, for instance, you can easily buy a home in an estate where amenities like 24 hours water and electricity are readily available. Also, these Estates are very accessible, secure, and have well-paved roads.
Having a home in such a place is guaranteed to appreciate and you’re assured of a peaceful stay.