Chances are that your clients have heard this old real estate adage, but they may not understand exactly what it means. The factors that make a home’s location desirable can vary from market to market, and in many cases result from a combination of considerations. Here are some of the things that can make a location attractive to real estate buyers.
Resale, Resale, Resale
Savvy home buyers keep an eye on the future and whether a property will bring good returns when they decide to sell it. Estimating resale value can be tricky since market and economic trends can be difficult to forecast, but some neighborhoods and areas have historically higher sales prices and/or lower time on market statistics which can be indicators of potential resale value.
Convenience, Convenience, Convenience
Proximity to business districts, schools, town centers, airports, and public transportation can cut commute times and make those properties enticing to buyers. In areas with high traffic volumes, convenience to frequently visited destinations can be even more important to buyers.
Amenities, Amenities, Amenities
Homes that are near parks, dining, entertainment, shopping, and recreational opportunities can be perceived as offering a higher quality of life. Amenities can be particularly important to relocating clients who are eager to the activities their new location offers and to young homebuyers.
Schools, Schools, Schools
Homes located in highly regarded school districts can have higher home values and quicker sales. The ability to walk safely to local schools can be an added plus. For families, access to reputable schools can be particularly important.
Prestige, Prestige, Prestige
Certain neighborhoods carry status and are sought after as a result of their esteemed reputation and cachet. In these areas, buyers may be willing to sacrifice square footage or lot size in order to afford homes. Prominent neighborhoods may be older, established communities or new, trendy developments.
Safety, Safety, Safety
Homes in areas with low crime statistics can be appealing to buyers, especially those with families and aging homeowners. Gated communities offer an added layer of security that can set a property or a neighborhood apart from other areas.
View, View, View
Homes that are positioned to take advantage of scenic vistas are often highly regarded. Sought after panoramas include water, mountain, golf course, forest, and city views. Homes with nice views can bring higher asking prices than comparable homes in the same neighborhood that may not have enviable vantage points.
Wherever a home is located, the addition of an American Home Shield® home warranty can add value. During the contract term, homeowners with American Home Shield protection don’t have to worry about covered home system and appliance component repairs and replacements or who they will call for covered breakdowns. The budget protection, time savings, and strategy for dealing with inevitable home system and appliance malfunctions bring value and convenience to home buyers and sellers alike. For more information about how “Protection, Protection, Protection,” can be important for your all real estate transactions, contact your American Home Shield Account Manager today, or visit ahs.com.
AHS assumes no responsibility, and specifically disclaims all liability, for your use of any and all information contained herein.