When discussing or reading about what buyers should take into account when buying a home, nothing will come up more frequently than location. There is a reason the classic Channel 4 property show ‘Location, Location, Location’ has its name!
Why Is Location So Important?
Put simply, you can improve a home, even knock it down and rebuild it, but you cannot improve the surrounding area. You could have the nicest house in the world, but if it’s next to a train track or in an area with high levels of anti-social behaviour and crime, it will always come at a cost in terms of asset value. A considerable part of the value of a home will be linked to the location and the size of the plot. Land will increase in value over time, but if it’s next to a motorway, this may affect what people are willing to pay in future.
Everyone (and Home) Is Different
It’s important to remember, however, that for some buyers different aspects of the location may well appeal to them. That train track? Well, for a heavy sleeper who likes ambient noise and wants a bargain, it’s the ideal home. You should think about your needs and consider the following aspects:
Commute and Travel Connections
If you work in a large city but want more space and a home in the suburbs, then commuting time is a big factor for many. As well as the time spent on a cramped train, there can also be considerable cost attached, even for a biweekly commute if hybrid working.
Schools
For those with kids or planning a family, good schools should be a high priority. There are many schools rated ‘outstanding’ by Ofsted in Hemel Hempstead, but if you don’t know where to start then a good estate agent should also know the local area and surrounding schools. A good estate agent will also be able to put you in touch with surveyors and conveyancing solicitors Hemel Hempstead such as https://www.samconveyancing.co.uk/Conveyancing-Solicitors/conveyancing-solicitors-hemel-hempstead to make the buying process as smooth as possible.
The Future
When purchasing a property, it’s wise to have an eye to the future of the area as well and how this affects value. A rural town that is about to get a super-fast rail link to a major city may see a huge leap in value, or a village that is next to a planned airfield may see a drop. It’s worth doing research on the local area, especially local council news, to see if anything major is coming up.