The Factors of a Good Location in Real Estate

The right location is among the most important factors when buying a home. A great location will allow you to commute conveniently, find affordable housing and make the most of your time. However, it can be challenging to know where to begin. In this article, top real estate and private equity investor David Ebrahimzadeh reviews the top 5 factors that contribute to a good location in real estate.

 

A residential area with a high concentration of housing

This might seem like an obvious one, but many people make the mistake of overlooking it. In a city like New York, the majority of the population commutes long distances to work. This makes it even more important to find a good location that is close by. This is particularly important for first time homebuyers who may not have a lot of experience in the real estate market. A good location will also appeal to people who are looking to purchase rental properties, explains David Ebrahimzadeh.

 

Access to public transportation

This is perhaps the most important factor of all when choosing where to reside. Allowing for quick and easy commutes is essential in this city. The subway, bus, streetcar and even the entire airport are all within a 15-minute drive from most neighbourhoods. Most people will be able to find a place they like within a reasonable walking distance of a transit stop.

 

Good quality schools and medical facilities

This one is pretty self-explanatory. A great location will allow you to find the right schools for your kids, nearby medical facilities and even places to live if you have kids. A good school system will allow you to find an affordable place to rent near you. A good medical system will let you find close to you a caregiver.

 

Retail explosion that is expected in the next 5 years

This is very important to the living environment of a city. If a large portion of the population begins to purchase household goods, then a large portion of the retail space as well as potential office space will be taken up by products that these people will purchase. This can be very challenging in a city like New York, which has a large population of working families. A good location will allow you to find close to you the right type of shopping, as well as places that cater to your lifestyle, adds David Ebrahimzadeh, the founder and owner of Corniche Capital.

 

Affordable housing and property prices

This is perhaps the most important factor of all when choosing where to live. For many first time homebuyers, it is very important to get this right. This is because you will not only be selecting a house, but a neighborhood as well. The right neighborhood will allow you to find affordable housing that is in great condition and close to public transportation. You will also want to make sure that the house you select is affordable because you want to be able to afford it. If you are on a budget, it is always better to find a house that is less expensive in the suburbs than in the city. You will also want to make sure that the house you select is right for you because you want it.

 

Conclusion

The best location in real estate is one that is close to everything you want and needs. Plus, it should have a few nice things going for it such as good schools and easy access to public transportation. There are many good areas in New York that fall into this category. With a few adjustments, you can find a great location for you and your family.