According to the New York Times, the answer has been "Location, location, location" since at least 1926, when the well–known expression was first used in a classified advertisement in the Chicago Tribune. Today's real estate agents still tend to agree. Buy a property in a good location and it's likely to be a solid long-term investment. But what qualifies a location as "good," you ask?
Start with the characteristics below.
Safety – The safer the better, so look for property in a neighborhood with a low crime rate. Consider locations where residents feel free to engage their neighbors and walk around outside even after dark.
Schools – Look for property in a good school district, even if you have no school-age children of your own. The quality of the neighboring schools will affect your home value and resale price in the future. See WFISD Website.
Entertainment – Properties nearest the popular places in town are always worth more. For example, if you live in a coastal area, a future buyer might pay more for your home if it's near the beach. If you live within a city, proximity to the best commercial district will add value.
Views – Homes near the water (lake, ocean or otherwise) or with spectacular panoramic views are always popular with home buyers. Add to the future value of your property by buying in such a location.
Transportation – The best location is one with easy access to public transportation such as the train or bus stop. If you're buying in a town where more people commute by car, easy access to the freeway may be valued more highly.
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