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Barbara's Blog

Location Does Matter

October 13th, 2020 8:30 PM by Barbara Doeringer

LOCATION DOES MATTER!

The old saying, “location, location, location” is more like a mantra when it comes to real estate.  Buy in the wrong one and you could be setting yourself up for financial ruin or at least an unhappy experience.  

You can change your home, adding, updating, and renovating down to the last square foot.  What you cannot change is the location.  Add in an inherent desire to build equity when you buy a home, and it’s not surprising that real estate experts often recommend buying not only in the best location you can afford, but sometimes even buying the worst house in the best neighborhood instead of the other way around.  

Buying in a neighborhood that seems to offer some cushion when it comes to values makes sense.  But what if you fall in love with a house that’s not in your preferred neighborhood?  The opportunity to buy a more affordable home can tempt people to take a chance on an “iffy” location.  But the potential for losing money on a home that may not ever appreciate because of the neighborhood is only the beginning.  Buying into an area that has higher crime can be dangerous to more than your finances.  

So, here are a few ways to investigate the neighborhood before making a purchase:

  • Look at sales data:  beyond the safety issues, you want to know about terms of your investment.   A low-priced home in a questionable area does not mean it is a good value.
  • Check crime records:  You want to pay attention to murder and violent crime rates as well as property crimes including break-ins, home robberies and car thefts.
  • Check the sexual predator registry:  for any neighborhood.
  • Talk to neighbors and area business owners:   Sometimes, the people that live and work there can provide the most telling information.
  • Consider the type of businesses in the area:   local malls, convenience stores, pharmacies, restaurants, gas stations. 

Having a local realtor who knows the area and communities well can make sure you are getting the best investment for your money, and he/she can do all the investigating for you at no cost!  So, don’t go it alone.   Contact Whippet Properties of Florida, with over 20 years of experience in the Central Florida area!  You deserve to have the BEST!

Posted by Barbara Doeringer on October 13th, 2020 8:30 PM


Whippet Properties of Florida

10082 Corso Milano Drive
Tampa, FL 33625