THE IMPORTANCE OF LOCATION IN REAL ESTATE INVESTMENT
You are welcome to another episode of our real estate tour on your favorite real estate platform LASGIDI REAL-TOUR. Today, we will be looking at the importance of location when making a real estate investment, Location plays a major role in real estate investment, To ensure a maximum return on your real estate investment, you need to ensure that you are investing in the right property in the right location. This is the reason why you need the service of a competent real estate consultant who have the knowledge of the area you are making an investment in. Sit back and relax and read through the reasons why location is important in Real Estate Investment.
You can buy the right home in the wrong location. You can change the structure, remodel it or alter the home’s layout but, ordinarily, you cannot move it. It’s attached to the land. The best locations are those in prime spots such as:
1.) INVEST IN PROPERTIES WITHIN TOP-RATED SCHOOL DISTRICTS
When buying a property for investment purpose, it is imperative that you take into cognizance schools around the area. Home buyers with children are concerned about their children’s education and often will pay more for a home that is located in a highly desirable school district.
2.) INVEST IN PROPERTIES CLOSE TO OUTDOOR RECREATION AND NATURE
Homes abutting the ocean, rivers, lakes or parks will hold their value because of the location, providing they are not in the path of a possible natural hazard. People want to be near water or visually appealing settings. People will also invest more in areas surrounded by Nightclubs, Children playgound, hangouts spots, beaches and more.
3.) HOMES WITH VIEW
Many homes sell quickly and for top prices because they provide sweeping panoramic views of the city at night, but even a small glimpse of the ocean out one window is enough to substantiate a good location. Other sought-after views include mountains, greenbelts or golf courses.
4.) NEAR ENTERTAINMENT AND SHOPPING
In many cities, you will find that homes located within walking distance of movie theatres, restaurants and boutiques are more expensive than those located further outside of town. Many people would rather not drive if they can walk to nightlife. It is important to ensure your home is close to the central market area, restaurants, cinemas, boutiques and so many other entertainment spots.
5.) IN CONFORMING AREAS
There is a popular saying that the riches associate with the rich. People tend to gravitate toward others who share similar values and their homes reflect it. People will like to buy homes in an area with top notch houses rather than a setting that looks more like a slum with unconforming houses. Home buyers mostly prefer to be surrounded by similar types of properties in age and construction, where people just like them reside.
6.) IN ECONPMICALLY STABLE NEIGHBOURHOOD
Neighbourhoods that stood the test of time and weathered economic downfalls are more likely to attract buyers who want to maintain value in their homes. These are people who expect pride of ownership to be evident. That’s why houses are more expensive around Lekki, Ajah, Victoria Island due to the stability in the neighbouhood, the riches live around these areas, you will always find a buyer for your homes in these axis.
7.) NEAR PUBLIC TRANSPORTATION, HEALTH CARE AND JOBS
Most people do not want to endure long commutes to work, the doctor’s office nor the airport. They prefer to be located close to emergency services and conveniences, so naturally homes in locations that shorten travel time are more desirable.
I believe you have been able to learn one or two things from this topic today. If you are thinking of making a real estate investment and you are not sure about what location is the right choice for you. You need not to worry, we know Lagos and most other states in Nigeria, we are here to make sure you make the right real estate investment decision. We have properties in prime locations such as Abuja, Lagos, Ogun, Oyo, Osun< Imo state and more. Take a look at the list of our properties (Lands and houses) available for sale on the property section of this website. Until another time, when i will be coming your way with another topic on your favorite real estate platform, stay safe and call on us for your real estate investment. I am Ajani Dhikrullah Ololade.