Why Is Location So Important in Real Estate?
“Location, location, location” is a common saying in real estate. And it’s good advice because location does matter. However, a good location is somewhat subjective because certain things are important to certain people. At the same time, there are objective factors such as the accessibility, appearance and amenities within a community.
We Buy Any Vegas House is a local home buying company that is familiar with the neighborhoods in and around Las Vegas. We know which neighborhoods are most attractive to prospective buyers and we are often willing to pay more for them!
Let’s cover the reasons why location matters in real estate and why so many people are moving to Nevada.
Why Is Location Important in Real Estate?
The condition of any home can be changed. You can even change the size and layout of your home with an addition or remodeling project. But you can’t change its location. This is why it’s such a critical part of real estate.
Supply and demand are two factors that influence real estate appreciation. In good areas, homes are more limited because people are happy and want to keep their properties. Desirability creates demand, and demand raises real estate prices.
What Factors Make a “Good” Location?
So what factors make a location desirable? Here are a few.
- Centrality. Homes in cities that have little room to expand tend to be more desirable and cost more. These homes also tend to be located near expressways, restaurants, shopping centers and businesses.
- Neighborhood. A lot of this is personal choice, though “good” neighborhoods do share a few things: accessibility, appearance, amenities, green spaces, low crime rates and highly rated schools.
- Development. What future plans for development does the community have? This matters to buyers as they want to invest in communities that have plans for commercial development, which also raise property values.
Nevada Real Estate: Why People Are Moving to Las Vegas
Las Vegas is one of the top ten states that people want to move to, gaining a 1.2% population increase in 2020. Much more than gambling, here are some top reasons why selling a home in Las Vegas can mean money in your pocket.
- Flourishing tech scene – Las Vegas is attracting Bay Area employees
- Newly developing downtown with retail and dining
- No state income tax and affordable housing
- Beautiful weather – 300+ sunny days a year!
- Outdoor activities – Las Vegas is surrounded by SEVEN National Parks, including Yosemite, Death Valley and the Grand Canyon
- Nightlife and entertainment
If you want to sell your home fast in Las Vegas, now is the time! Contact We Buy Any Vegas House for a free, no obligation cash offer.