Is Real Estate Location a Significant Factor

One thing that we have all heard about purchasing real estate is the saying location, location, location and nothing in real estate is truer.  The location of real estate is of the utmost importance especially if you are in the market for properties that will make a quick profit.  Even if you are buying real estate that you are going to hold onto and live in location is still very important.  Buying real estate is the largest purchase most of us will make in their lifetime and it takes careful consideration before we jump into the real estate market. 

If you are looking to purchase a home where you are going to raise your family then you most definitely want a good location.  You do not want to raise your children in an area that is crime ridden.  You do not want to buy in an area that has depreciating property values.  There are other things to consider but most of these things are personal taste and wants.  Some people will want to live in an area that is close to other people and conveniences such as schools, churches, and shopping.  Others will want to live as far away from other people as they can get and not worry about how close they are to stores and the like.  Some people that are moving from an apartment just want the extra room that a house offers and do not worry too much about location as long as it is safe and secure.

Other things come into play with the location of a property.  Location will determine the cost of the property.  You can get a larger home in the country than you can in the city or suburbs.  Property taxes are higher in the suburbs or cities than they are in the country.  In the country you can have an acre of ground and pay less tax than a person in a suburb that only has a quarter of an acre.  Generally, a home that sets on its own in the country will have lower insurance cost then homes in the suburbs.  The drawbacks to living in the country are that you will have to drive into town for all of your needs such as groceries.  In case of an emergency, it may take longer for help to arrive.  What you want, need and your budget will all play a part in the location of your home.