“ Location , location , location ”
Location is the key to valuable real estate . In terms of accessibility , you should look for a neighborhood that is situated near a city ’ s major transit routes and that has more than one point of entry . Commuting to and from work is a big part of many people ’ s day , so a house with easy access to main roads and public transportation will be more desirable than one that can only be accessed by one route .
A great neighborhood should also include important amenities such as grocery stores , shops , and restaurants , most people like to frequent places that are convenient . If you have to drive a great distance to get to anything , it ’ s likely to make your house less attractive . Schools are another important amenity , even if you don ’ t have kids , if you want to sell your home in the future , many buyers will be on the lookout for good schools . The quality of schools and universities and the distance from the house are both important factors to consider .
The appearance of the surrounding neighborhood is also important , large trees , quality landscaping , and nearby parks or community spaces tend to be desirable . You can also judge the popularity of the neighborhood based on how long homes in that area stay on the market ; if turnover is quick , you ’ re not the only one who thinks this is a desirable place to live .
It is not just the present amenities that matter , but future ones as well . Plans for new schools , hospitals , public transportation , and other civic infrastructure can dramatically improve property values in the area . Commercial development can also improve property values .
When you ’ re buying a new home , try to find out whether any new public , commercial , or residential developments are planned and consider how these additions might affect the desirability of the surrounding areas .
Dr . Hady Fathy Head of Real Estate Valuation and Feasibility Studies Department RE / MAX Corporate Egypt
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