Real estate agents will tell you when it comes to purchasing property,
nothing is as valuable as the property's location.
But what exactly do they mean by the mantra: "Location, location, location?"
The answer is a little tricky, because brokers aren't just referring to a
specific suburb, city or neighborhood.
The first location does refer to the general area in which you choose to
live. Selecting that neighborhood can be tough. It should have a good or
excellent school district, but be affordable. It should have great public
services (like a public library, park district and perhaps a community
center) and low crime. It should be a beautiful place to live, but have the
shopping and services you need to make life comfortable and convenient. It
should be close to your job, but also close to your friends, family and house
of worship.
The next consideration is where in that community is your home located.
Neighborhoods vary, in some cities, from block to block. Choosing the right
area of a particular neighborhood might mean you're walking distance to
shopping or it could mean you're in a community with people who have children
the same ages as yours. What attracts us to a particular community is
different for each of us.
The third "location" refers to the exact placement of your house on a
particular block. In some communities, homes in the middle of the block are
prized. In others, it's the corner lots that are coveted. Years ago, I
decided not to make an offer on a single family house because it was next
door to a condo building. I didn't want my neighbors being able to look down
at me while I gardened.
Before you make an offer for a home, consider all of its locations - and
which factors are most important to you.
Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.
Finding the Right Agent or Broker
Once you announce your intention to buy a home, you'll be courted by every real estate professional you know or meet. But which real estate agent should you choose to work with? Lisa Skolnik has some advice on finding the one that's right for you.
It's easy to dream. It's a lot tougher to make real-life
decisions based on what you have to spend and what's
on the market. Barbara Buchholz, former editor of House
& Garden Guides Magazine and co-author of Porch Style
and the New Homeowner's Handbook will provide you with
information to help you figure out what kind of home is
really right for you and make your dreams a reality.
Hunting for a home can quickly become confusing and
frustrating. Should you use an agent or house-hunt on
your own? How can you choose the right neighborhood?
In this section, Lisa Skolnik, city editor for Metropolitan
Home magazine and co-author of Porch Style will help
you find information that can help you get moving in the
right direction.
If you're looking for the perfect home, forget it. Every
house, including one that's just been totally renovated or
newly built, will need a dose of TLC as time goes on. If
you're willing to live with and correct these
imperfections, you may be able to create real value that
translates into a nice profit when it comes time to sell.
Jim Sulski, real estate development and home
improvement contributor for numerous publications
including the Chicago Tribune, Crain's Chicago Business
and Consumer's Digest offers some guidelines.
