Location factors when buying or renting a home
Category Advice
Buying or renting a home is a multi-faceted decision and various factors need to be taken into consideration before making “the big move”.Choosing an ideal home is largely dependent on the area you choose to live in as location determines the quality of your day-to-day living and the future value of your property should you choose to buy.
The following location factors need to be considered when investing in a home:
Geographic location
South Africa has a diversity of locations that cater to a range of needs. For example: Those looking to retire, Somerset West is the ideal suburb, whilst students will prefer Stellenbosch due it housing the Stellenbosch University and its thriving night life. When moving into a location it is imperative to consider what is important to you, such as, job opportunities, average home prices in the area and proximity to work, schools, leisure activities and major freeways and public transit nodes.
Safety
An area’s safety is one of the most important location factors to consider. Living in a secure and safe environment means that houses will cost higher prices both in selling price or monthly rent when compared to homes in crime prone areas. However, the higher costs that accompany a safe neighbourhood is favourable since you can be free to walk around, spend time outside and interact with the environment. Such a location also serves to reel in high return on investments should you wish to sell the home eventually, making it a long-term asset.
Sense of community
Communities are very much an extension of the people who live in it and as such, it is recommended to find a community that best fits your lifestyle and personality. This means choosing a location where you are likely to thrive and get along with the neighbours. This is especially important if you choose to live in a sectional title where units are built close to each other, under common property- making interaction with those living on the same property a regular occurrence when compared to freestanding homes.
Stay in the know
In order to arrive at imperative conclusions on whether or not a location is suited to you, the internet is a savvy tool where you can conduct online research through websites, forums and message boards. Research topics such as, crime statistics of an area, the average income of the community and the proactivity or inactivity of the ward councilor, to determine whether the area is under leadership of a competent individual. Besides this, visiting the area in the day is essential to uncover its DNA, ensure you look for factors, such as the condition of the infrastructure like roads and street lights, to determine whether or not maintenance is a priority in the community.
Therefore, location plays a crucual role in deciding whether to persue a new home. For more information about our neighbourhoods and listings, contact one of our agents and we would be happy to assist.
Author: Dormehl Property Group
