Living Green Olympia: More Questions Buyers Ask - So What is the Big Deal about Location?

More Questions Buyers Ask - So What is the Big Deal about Location?

 

 

Buyer/Seller question

If you have read anything much about real estate, you have probably run across the phrase "location, location, location".  Buyers often ask why location is such a big deal when you are buying real estate, since it is easy to get more focused on whether you like the kitchen or master bath of a particular house, or the flower garden in the back yard.

But location IS a big deal to consider, both in choosing a home you will really enjoy living in, and because of the impact location has on appreciation and ease of resale (and yes, I know you think you will live here forever....but just in case your plans change....).

Location is one thing that is impossible to change - or awfully close anyway.  Yes, sometimes people will actually have a home picked up and moved, but that is not easy and certainly not cheap.  So assume that the location of the home is what it is and will not change.

Now what makes a location a really good one, or not so much, will look different to some extent to each buyer, but be aware of things that probably are likely to be negatives to many, many people.

Power lines

Things like being right under or next to the big high voltage power lines.  Or right next to a motor speedway (and I get it that if you are a race enthusiast, this might be your IDEAL location, but we are talking in general here).  Many people do not choose to live right on an extremely busy road, or backing up to one either.  You can basically figure if the home is next to something that creates extra noise, smells, late night lights or high levels of traffic, there will be a fair number of buyers who will just not want that house.

So think about what kind of location you want to find to enjoy your home and yard to the fullest - but also whether any of the things that are not big deals to you just might be to lots of other people.  Houses in all of the locations I mentioned will still sell of course.  But if there are fewer buyers who think it is a great location, just know that it will take longer to sell and will likely not bring you the same top dollar it might if that house you love was in a location with fewer challenges.

                                                                           

  ***********************************************************************************                              

                        Showing Olympia - Let me show it to you!!

For Info on the Communities of Olympia, Lacey & Tumwater  WA and the real estate to be found here, just call me, text me, email me!  And I'd love for you to subscribe to my blog.

Nancy Conner, City Realty Inc,    360-701-1086     nancy@cityrealtyinc.net      

Comment balloon 2 commentsNancy Conner • January 18 2011 02:54PM

Comments

Nancy, Good post.  Often buyers are so focused on the inside of a house that they are unable to take in the location of the house.  Driving around the neighborhood a few times is a good thing for buyers to do so they can determine if the location is good for them in regards to many of the things you posted.

Gloria

Posted by Gloria Todor, & Doug Durren (484) 431-3686 in SE PA (Century 21 Absolute Realty ) over 7 years ago

Thanks Gloria -  I totally agree that buyers driving around the neighborhood to make sure the location is what they want can save lots of after closing headaches.  Some location factors are just difficult/impossible to learn about if buyers rely only on the MLS info online about the house - and working with an agent who knows the local area well can also cut down on very bad surprises. 

Posted by Nancy Conner, Olympia/Thurston County WA over 7 years ago

Participate