When it comes to your next home purchase, location is going to play a vital role in your decision. You know that you have certain amenities that you want to be close to and will be asking your real estate agent to find you the perfect home in the right part of town. When it comes to real estate, location is relative but there are 4 different wanted amenities that are common to most potential buyers.
Restaurants Shops And Services
People are willing to pay extra in order to live close to services, restaurants and shops that are only a walk away. Buyers are looking for a home where they can purchase a few items on their way home after a long day at work. With a high walkability score for these types of amenities, you'll see residents out and about walking around and as a result the community becomes more vibrant.
Many buyers are willing to pay extra in order to secure a home that's close to public transit. The cost of living in the downtown core is too high for many people so they choose to look at homes in the suburbs. In these areas, walkability to an LRT station is a wanted and needed amenity. If you are selling a home that's within a few short blocks of a station, you're sitting on gold. Commuters don't want to have to travel far to get to a station since they know that they already have a long ride ahead of them to get into the downtown core.
Families or young couples that are planning to start a family in the future are looking for good schools in their areas. You should keep in mind, however, that living across the street from a high school may not be the best place to settle. You may have to deal with some forms of petty crime and graffiti or even car vandalism.
Sports fields and community centres are always amenities that most families are looking for. Many parents spend a lot of time driving the kids back and forth to activities so it's a great idea to locate in a neighbourhood that has the type of resources you need for your children. If your kids play hockey, for example, how much driving time could you save by settling in an area that has an arena?
Homebuyers often calculate their work commute before committing to a purchase to ensure they will not spend all day driving. They may be willing to pay a premium for a home that is located close to their workplace. They may also completely turn down their dream home because of its location far from work.
Long work commutes can eat up a large portion of your day, so it is understandable if you want to skip all that nonsense and get a home within a quick drive or walk to work. To acquire a home in the right location, you have to consider your long-term career and housing goals. With these considerations, you can work on aligning these factors to ensure you do not spend the best part of your days in the car.
Personal preferences on commuting, along with a whole lot of other factors, directly contribute to the final decision on this front. The presence of rapid transit options in the area can ease worries a bit, though it is not a complete fix. So, do not feel bad if you want to turn down a home due to its distance from work. But remember, if you want a home within close commuting distance, prepare to pay a bit extra to get your perfect property in your ideal location.