Orlando Real Estate

Why Location is So Important in Real Estate

February 13th, 2017 8:40 AM by David W. Welch

What are the three most important considerations in buying real estate? Location, location, location. Everyone has heard this old real estate axiom. But why is location so important? Very simply, it is the one thing that you cannot change, in fact you could argue that location is really what you are purchasing when you buy real estate. Yes, the physical improvements to the property, i.e., house, commercial building, etc. add value, but these are all just temporary fixtures. The location of the property itself is permanent, and when you purchase real estate you are buying the rights to that permanent location.

That is why it is so important to consider the location of the property carefully when making a purchasing decision. The more convenient the location is, the more marketable and likely more valuable it will be, now and in the future. When considering residential real estate, you should look at proximity to shopping, access to highways and schools. Also consider aesthetics and amenities associated with the location, like parks and lakes. When considering commercial real estate, access to roads, and convenience to potential customers are key considerations.

A beautiful home in the middle of nowhere is likely far less valuable than an average home located in an A rated school district with convenient shopping and easy access to the expressway. Choosing a good location is not necessarily difficult, but it can easily be overlooked. 

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Posted in:Opinion and tagged: Orlando real estate
Posted by David W. Welch on February 13th, 2017 8:40 AM

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