Buying a new house is a large financial commitment. In some cases you may end up being tied to a mortgage for as long as 30 years. Because of this, it is important to make sure that the new home you want is in a location that works for you both now and in the long term. We will describe some of the most important factors to consider when deciding where you want to look for a house.
When deciding on a location for your new home choosing between a city or a town will be one of the first decisions you should make. There is only so much land in the world, so denser cities like Dublin do not have as much room for expansion. leading to property in the city being more expensive than other cities and towns with more room to grow.
Sometimes, these cities have too much room to grow, leaving an abundance of uninhabited properties. You should be wary of areas like this, as it can lead to a decline in value over time.
Understanding the present amenities that exist near a home are important as well. These developments add value to the region for all homes in the are.
Having some knowledge of future development is important as well, as it can add future value to a house while still allowing you to buy it at a lower value. Plans for public transport, schools, and other forms of civic infrastructure can have a large impact on property value in their surrounding area.
Deciding on a “good” neighborhood is less objective than trying to find a home with a central location in a developed area. Most of what makes a neighborhood good for an individual homebuyer boils down to whether or not they like it personally.
However, when looking for a good neighborhood you should always take into consideration the three A’s. Accessibility to the closest city’s transit routes in the event you need to commute for work. Appearance that is well maintained with quality landscaping and nearby community spaces. Amenities like shops and restaurants that are close enough to conveniently access.
The Land Lot
Finally, the actual physical location of the house should also be taken into consideration when looking for a good location. Factors such as being on a busy vs. a quiet road will affect the price. If you do not mind living next to a busy road or a highway chances are you can get the house for a lower price. However, this can also make it difficult to sell your home in the future.
You could also probably get a home right next to the shops or a gas station for a lower price as well. Houses on streets with a high amount of parking traffic will also lead to a lower priced property, but presents the same issue of being difficult to sell later on.