Why location and surrounding matters while investing in a property?
Property buying is a long and extensive process. It entails many steps and factors before one deploys their money into any piece of land. Amongst all others, surroundings and location matter a lot while investing in a property. It often influences the buying decision of an investor, while giving them considerable reasons to invest in a particular piece of property. Here are some of the reasons why location and surroundings matter during property investment?
- Proximity to major hub spots: One of the factors that affect the housing buying decision is the connectivity to major social infrastructure such as schools, colleges, hospitals, shopping malls, etc. It raises the property value and makes it preferable over competitors. Having social infrastructure around the house offers convenience and ease. Therefore, swift connectivity is preferred by many people.
- Development: The property buying decision is largely affected by the current and upcoming developments of an area. For instance, a person is more likely to invest in an area with rich neighbourhood. The locality should not take 5 years for a decent school to come up. In this case, even if the property value of the house is higher in former location than the latter, the person is most likely to invest in the former location without having double thoughts.
- Return on investment: Resale value of the property is considered prior investing on it. The returns are greatly influenced by the development in the area and future appreciation of the land. A higher return is expected out of a property if it is situated at a posh and developed location when compared to any other usual locality. This factor has largely changed the buying pattern of potential customers in real estate industry.
- Area standards: Every area of a city is defined by its standards. It is essential to consider the cleanliness in the area, security offered, green belt around the area and the living standards of people in the area. When these factors are in place in a locality, the living conditions too are expected to be comfortable and smooth.
- Neighbourhood: The key factors of a good neighbourhood are it’s accessibility, amenities and appearance. A location with the presence of all these factors is preferred over the one that isn’t packed with these. Secure and comfortable surroundings around a house make it more accessible than others.
Reliaable Developers offer plots at some of the best locations of Bangalore. These locations have close proximity to major social hubs of the city. Some of these include VIBGYOR High School, Delhi Public School, National Public School, PESIT South Campus, Narayana Multispeciality Hospital, Apollo Hospitals, Hotel Ibis, Double Tree Suites by Hilton, Fairfield by Marriott, RMZ Ecospace, Prestige Tech Park II, Wipro Corporate Office, Bosch Limited, Forum Mall, Soul Space Spirit and many more. To know more about the location of these plots and other details, click here.