Location, Location, Location!

The search for your dream home can be an exciting, yet overwhelming experience. One of the key aspects of finding your perfect home is considering the location. Whether you’re hoping to live in a city, suburb, or rural area, there are important factors to keep in mind when determining your future place of residence.

Neighborhoods that stand out among others typically provide the lifestyle that buyers desire. They are often situated in areas that are accommodating and supply easy access to local recreation, shopping areas, education, and have high livable scores which are publicly available on sites such as areavibes.com and walkscore.com.

You may be more inclined to purchase a home in an area that is in walkable distance to your favorite beauty salon, grocery store, or has access to a community pool and parks, rather than a neighborhood that would require a longer commute to these niceties. The significance of these luxuries depends on your personal lifestyle and their proximity to the neighborhood where you choose to live.

Location also determines whether the value of your home will progress or regress.

The principle of progress estimates that the value of your home increases when found in close proximity to other high-valued properties in a desirable neighborhood. A modest or less expensive house in a pleasant neighborhood will increase in value when found among other nice and more expensive properties.

The principle of regress assumes that the value of your property will decrease when found among less-expensive homes in less-desirable neighborhoods. Investing in major remodeling or changes in a home that is situated in a neighborhood with less-expensive houses will bring the value of your home down.

Location and livability aren’t just factors that you should consider when purchasing a home. These features will also be important if you ever decide to sell your home in the future, since the community features and amenities will affect the resale value of your home. To learn more about finding the perfect location for your new home, check out our video on Popular Charlotte Neighborhoods.

Find Your Dream Home With Perfect House Realty

Home buying and selling can be an intimidating and complex process. The team at Perfect House Realty are committed to helping buyers and sellers in the Charlotte, North Carolina area understand their options. Call us at 833-704-HOME or find your dream home online.


Sources:

https://www.prepagent.com/article/principle-of-regression-progression

https://www.thetruthaboutrealty.com/factors-that-determine-real-estate-value/

https://study.com/academy/lesson/the-principle-of-progression-in-real-estate-definition-example.html