Maidenhead Estate Agents 

Location, Location

 You've heard it so many times! Maidenhead Estate Agents referring to what and where to buy a property. A beautiful property next to a motorway or refuse tip is nearly always worthless.

Why is location so important? Desirability. Desirability is an intangible that is really hard to put your finger on.

Property that is of no interest to one person might be just the next person’s dream-come-true. And this phenomenon is true for property investors.

The main point for any property investor to consider first is what their strategy will be for making a profit on a property. Buying is only half of the equation and whether the location of the property is good or bad depends upon that profit strategy. (See the article on Investing.)

As an example: If an investor wants to invest in a property with the intention of waiting for a market rise, quality property is probably the best choice. Properties near entertainment centres or developing areas would be best because the odds are that the property will increase in value.

On the other hand, if an investor is going to invest in a property with the intention of renting it and making a monthly income from it, he might be better off to look into city properties.

If you are an investor who are handy with your hands and can make repairs and renovations to rundown properties with the idea of selling on, then locations in neighborhoods that are made up of mid priced homes in working neighborhoods would be best. Schools, shops and transport are vital points to consider.

There are many factors that real estate investors consider when they are deciding which property to invest in. One factor can be what I call the ‘snob’ factor.

It’s strange but people will pay a lot more money for a small property in the ‘right’ neighborhood than they will for a larger property in a less desirable neighborhood. However...one person’s definition of a ‘good’ neighborhood will not be anywhere close to another person’s definition of a ‘good neighborhood.

Sometimes a neighborhood or an area has become famous or even infamous, this also help values. As mentioned above, convenience is another factor when considering the desirability of the location of a piece of property. People do like to live close to where they work if possible and where their children attend school. Rising fuel costs prices just might work wonders for property prices in inner cities.

The desirability of the location of any piece of real estate can be determined by a great many different factors for real estate investors and for home buyers and renters. If the location is desirable for the investor’s purposes he will invest.

We are a nation of individuals. We all see things from a different point of view. Look around. There are people living everywhere. They live in big cities, small towns and in urban and rural areas. Who can determine what a ‘good’ location really is?

There is a proverb that says, “Beauty is in the eye of the beholder”. The modern version would be ‘whatever floats your boat is good’. In real estate it would translate to ‘if the location serves your purpose then it’s a good location’.

Article brought to you by Maidenhead Estate Agents