Location, location location! This phrase is repeated over and over by everyone from real estate agents to property financiers. Despite that, a lot of people give in to emotional value and many other factors while buying a new home and the location remains an afterthought.
That’s an unfortunate mistake that may cost you a lot in the long run. Make sure that you understand the significance of the location while consulting real estate agents for buying Kelowna luxury real estate. As an investor, you will lose profits and as a homeowner you will lose on amenities and supporting infrastructure that comes with a good location.
Real Estate Agents Recommend You Use These Factors To Decide On A Location:
If you plan to live in your new home, safety is a primary concern. You don’t want to risk the well-being of your loved ones and worry about their safety when they go out for an evening walk or regular chores. The same holds for your property. You don’t want people eyeing your property and robbing you blind while you are out during the weekends. Check the crime rate of the city and the neighbourhood when you decide to invest in a property. Safer areas of the city will always be more expensive and you pay that premium for the safety of your family.
If you plan to grow your family in a new condo in Kelowna, make sure to choose a property that’s close to good schools. All schools aren’t equal and you must investigate that the local schools don’t just provide a high-quality education but also a safe environment for your kids. Even if you don’t plan to raise kids, it’s going to be a more attractive investment option since families would pay a high premium for it.
Location also defines the geographical location of your new home and the sights it comes with. For instance, when you buy a property among the new condo developments in Kelowna, you get to wake up to pristine hills and majestic lakes. That’s why this region has so many national parks and gardens. Don’t underestimate the value of breathtaking views. They have many positive psychological effects and keep you in a good mood.
For some home buyers, an easy and quick commute is an afterthought. Others pay a lot of money for a small one-bedroom apartment in the heart of the city since it’s close to work. Either way, a good commute affects the value of a property immensely. For instance, if it’s a walkable neighbourhood that prioritises pedestrians and bikers over cars, it’s going to cost you more money. Proximity to airports, bus and train stations also makes the property value of Kelowna condo soar. You don’t want someplace that’s too close to the noisy transportation hubs either.
Speaking of noise, if a property is right beside transportation hubs like airports, besides a busy highway, or close to entertainment centres that create a lot of noise, it’s going to be uncomfortable to live in. You want a property that’s close to urban centres, not right next to them.
Local amenities affect real estate pricing drastically. From shopping centres and grocery stores to restaurants, trails and cultural tours, these amenities directly influence the final price of your home. When you invest in Kelowna condo developments, you get access to all those amenities and much more. Indulge in water sports, view the local vineyards or go for a wine-tasting tour. Otherwise, you can participate in a relaxing biking tour through serene trails or kayak over the calm lakes.
Upcoming developments also have a sway over the price of the property. For instance, if a new commercial strip is about to open up near the property or a new bus station is about to come up within walking distance, the value of the house will rise sharply. As a future homeowner or an investor, look out for important upcoming developments near that property to grab it at a bargain.
These factors should leave no room for doubts about the importance of location. Whether it’s the future of a country or speculation on a real estate property, geography is destiny and should be the prime consideration while making new investments. So, choose wisely, for the right location can be the cornerstone of your future prosperity.
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