We’ve all heard the saying – there are three crucial aspects in determining a property’s desirability: location, location, and location. However, in recent times, our perception of what might be considered an attractive location has shifted. What exactly is the importance of location and what makes a location truly worthwhile?
Traditionally some of the things that are valued include:
Now that we are spending more and more time in our homes, we are more likely to consider:
With more and more people working remotely, traffic patterns have altered, and in many areas, peak hours have become reduced. This means that a Friday afternoon trip to the beach might not result in a 4-hour drive home, and you may have the flexibility to take the kids to the mountains for a week, where they can get outside and make snow angels before starting online classes.
You may consider buying a new home outside of the area you would normally consider, especially if it has easy freeway access and is close to less highly trafficked outdoor attractions. Swap Runyon Canyon for Earnest Debs Park and bustling café strips for quiet tree-lined streets.
Due to the events of the last 12 months, the demographics of many areas are changing rapidly. And while the importance of location is still essential, the valued aspects of a location can change.
When consulting with your C21 realtor, ask for the stats on how many houses are currently on the market and how quickly they are selling. Suppose you are buying into a highly competitive area. In that case, it may result in being surrounded by like-minded property owners who plan on making improvements and maintaining their homes so that values in the area will increase.