Location Is Everything!

One of the greatest factors in regards to overall costs of property is in the neighborhood or area itself. In real estate, location is everything and depending on what your personal preferences are, you should expect the costs of properties to change based on location, even when all other features and factors are similar.

For example, if you choose to live just outside of a city zone, a property of the same age and size could be as much as $50,000 cheaper than a property inside of a city zone. You will also want to consider what is available in different areas, based on what is most important to you. Are there grocery stores local to the neighborhoods

you are evaluating? Are there late night conveniences? Entertainment? Doctors? Schools?

All of these factors will influence your decision to buy within certain areas, and if you have small children, you‟ll also want to consider the quality of the schools in the same way that if you require regular medical treatment, you‟ll want to make sure that there are medical facilities near your home.

For many homebuyers, location is the most important component when choosing na property and it‟s also the key factor in which they spend the most time evaluating. You want the conveniences that are of most importance to you!

If you are considering purchasing a property outside of a city zone based on the savings, you‟ll also want to make sure that the lower property rate is justified based on the costs to commute.

On the other hand, if you are interested in living within city limits, you will want to pay attention to additional costs and factors such as metered water, sewage costs, pet restrictions and any by-laws that you may be affected by.

For example, in many cities there are bylaws preventing residents from having too many pets, and believe it or not, there are even bylaws that indicate what color you can paint your home!

So be careful in choosing a neighborhood just based on cost alone. You will want to discuss any bylaws or restrictions applied to an area with your realtor before making an offer on a property.

When considering different locations, you will want to try to spend some time in each area, so that you are able to get a personal feel for the neighborhood. Consider staying in a nearby bed & breakfast or a hotel for a weekend, so that you can explore the area, walk through the neighborhoods, visit nearby attractions, restaurants, parks, and even speak with the locals.

While many people overlook this simple step, it can really make a difference in helping you choose an area where you feel safe, relaxed and truly connected to. If you have children, you will also want to include them in making your decision.

Spend some family time around the different areas that you are considering so nthat there are few surprises when you move in. Pay attention the proximity of nearby schools, whether there are local events for your children based on their interests, whether you will be close to amenities or areas that you‟ll visit frequently, and whether you can really see yourself living in an area for a long period of time.