One of the most common adages in real estate goes something like this: “The three most important to consider when buying a home are location, location, location.” And it’s true. Buyers--including millenials--still list location in their top three considerations when looking, and reasons for purchasing their home. The stats vary depending on whether it’s a first-time homebuyer, or a move-up buyer, but where a home is situated is generally accepted as very important (the other top considerations: condition and price).
But when deciding on location, homebuyers can fall prey to the idea that external factors best determine what is best, and when the time is right. While considering what the market is doing is important when buying a home, it’s more important to determine what’s right for you. The same holds true when determining location.
What’s best for location is vastly different from one buyer to the next. For example, a condo downtown is great for young professional or a couple in retirement, but a busy, urban location for a young family could pose more challenges than solutions offered. Conversely, for a family wanting a yard and a specific school district, a suburban single-family home can be the answer, whereas for a transplant who’s used to relying daily on public transport, cities further away from the city center could prove difficult to get around.
So, choosing location, like so many other things in real estate, can be a very personal decision.
Angela Anderson, 612-396-3654
Licensed Associate Working with Sharlene Hensrud of RE/MAX Results, and HomesMSP — Sharlene, John, Angela