Importance of Location in Real Estate

The adage “Location is everything” holds even today. More so given the pace at which the industry is growing in India. Location is the basis on which the property's value, demand and success are decided. As a home buyer or an investor, the location of the property can be a game changer because every aspect of your lifestyle is directly or indirectly related to the location. From the most basic facilities like water supply and power to futuristic concerns like growth and property value, the location by far is the most important aspect in real estate.

In this blog we will delve deep into the importance of real estate.

1. Accessibility and Convenience

The property’s location will determine how well you connect to the major hubs in the city. How far is your work location, public transport stops, railway station, and the airport? These factors determine your mobility and convenience, crucial factors for working families with children and young adults. The property’s access to major roads, metro networks and highways will determine how fast you can access major hubs. If the property is isolated from major transportation routes and modes, then mobility will be difficult, making daily life stressful.

2. Quality of Life

A safe and secure location will help family members live peacefully without worries. The location must have a zero-crime rate and should be surrounded by safe residential neighborhoods. The neighborhood should have all the conveniences required to live a decent life, like shops, supermarkets, convenience stores, and other services. The residents in the project should be well-educated, decent folk so that there is harmony and a positive atmosphere, nurturing well-being within the locality.

3. Social Infrastructure

Educational institutes, healthcare facilities, daily essential goods and services should be easily accessible. The closer these facilities are, the greater the property value. With educational institutes and healthcare facilities close by, concerned parents and care-takers of senior citizens can rest assured that their loved ones are safe and help is not far away when required.  Easy access to entertainment avenues like cafes, restaurants, and malls is also desirable.

4. Property Appreciation

Properties in desirable locations are in high demand due to the convenience, accessibility and quality of life. For investors this ensures low vacancy rates and competitive and steady rental returns. For home buyers, since property is an investment, this translates to healthy appreciation in property value allowing them to own a valuable asset.

Owning a property in a good location can be very beneficial in the short, medium, and long term. Investors and home buyers should spend time researching good localities in the city, meeting the criteria discussed above before buying property.