It goes without saying, location, location, location will always be a driver in the resale value of a home.
But what makes a specific location boost your return on a property investment? As you look at properties to invest in and flip, consider these 4 location factors that will directly tie into your resale value and return on investment.
4 Real Estate Location Factors
- Walkability. Ask yourself, would I want to walk out the front door and go for a walk? If the home is tucked in a safe neighborhood with nice sidewalks, it immediately gains curb appeal for buyers. If a nice shopping area, park or schools are also located close enough for buyers to walk or bike to, you’ve gained additional selling points.
- Nearby perks. Biking paths, parks and even comparable or higher-end areas that border the home’s neighborhood will add value. Watch out for homes near businesses that have moved out of town or where you see several vacant or deteriorating homes. You’ll have higher resale value in a thriving community.
- Neighborhood charm. Does the neighborhood have its own charm? Are there several historic homes, beautiful front porches, tree-lined streets or custom, modern homes? Areas with individuality and custom properties tend to have a better resale value than ones that without those charms.
- Schools. It almost goes without saying that if a neighborhood is located in a great school district, it immediately boosts a home’s resale value. There will always be parents who want their children attending a great school.