| What's the single most important factor in property | | | | reaches), buying a house at an overly crowded road |
| valuation? Well, the answer has been repeated many | | | | or congested shopping mall can backfire because of |
| times by real estate gurus (emphasized with the help | | | | noise and all the hustle. |
| of a phrase that makes it way in every article related | | | | Commercial Property: |
| to property location i.e. "location, location, location"), | | | | Quite obviously, a commercial property should be |
| still no harm in reminding ourselves of this important | | | | located at some swarming place. Transportation and |
| element once again. If you have been involved in any | | | | parking facilities are other things to look at. If you |
| decision regarding purchase or sale of real estate, | | | | already have some business in mind, you can see if |
| you must be aware of the importance that location | | | | the place attracts your potential customers (e.g. |
| and neighborhood has in these decisions. In all types | | | | targeted age group or income class) for your |
| of properties including residential properties, shops, | | | | business, also make sure that you are not going for a |
| land or farmhouses, every single party is concerned | | | | place where plenty of other businesses are already |
| about its surroundings. | | | | offering the exact products or services. If the |
| So, what's an ideal location? The answer depends | | | | property needs lots of renovation before it can be |
| mostly on your own requirements but there are | | | | utilized then keep those expenditures in mind when |
| some general points to mull over when deciding the | | | | settling on a price. |
| price of a property. | | | | Crime rate is another important factor for both |
| Residential Property: | | | | residential and commercial properties. Investors who |
| Residential properties should ideally be located in | | | | are looking for long term investment can earn huge |
| some urban areas with availability of all basic | | | | profits by investing in some area going through major |
| necessities like electricity, clean water, gas, etc. | | | | development works or infrastructure programs. |
| Amenities like schools, hospitals or shopping malls in | | | | Buying a piece of property in this area when the |
| the vicinity are a plus. If you are buying the property | | | | work has just begun will be comparatively |
| for renting purpose, then you must look into the | | | | inexpensive, hence offering huge profit margin. Apart |
| demand of houses in that specific area. Some | | | | from these basic rules, you should consider your |
| undesirable place/ people in the neighborhood may | | | | personal likes and dislikes about the neighborhood |
| also raise eyebrows. And while it's good to have a | | | | when finalizing deal for some property purchase. |
| residential property in the inner-city (not outer | | | | |