The Trivial Turmoil of What Is More Significant Property, Price Or Location?
Apr 04, 2017 Home Trading Steps
Often buyers get confused between the different aspects of property buying. Be it the location, the price or the property itself. Choosing the right property at the right time in the right market is a crucial task and requires a lot of effort and patience. Lack of scientific methods to help buyers in the research, they either settle with the property that satisfies their short term goal, overlooking the long term goals or get confused between the end user necessity and hunt for appreciation.
Often the buyer’s need and wants contradict each other and with the absence of the clarity of emotional and financial rationale, buyer’s end up taking a wrong decision.
A better research on this subject can help both the buyers and the developers and bridge the difference between the supply and demand. According to the real estate analyst, it all depends on the location suitable to the buyer and how much they can invest.
Buyers often get caught between the value and the price point of the property. Sometimes they end up paying more money for the property. For the house they intend to use for themselves, they compromise on the quality of the construction and the property because they want to live in the desired location. They even compromise on their basic need for the same and overlook the long term needs.
There are four levels in choosing the right property:
1.Distance from the workplace
2.Access to daily requirements
3.Affordability
4.Location
The above mentioned are equally important and neither of them can be overlooked. Analyst suggests that renting a property just at the walking distance from the workplace is a better choice because not only it will save time but also the commute money. Location for the property is equally important. Choosing the property that is near the workplace as well as provides the basic necessities of a better social life, access to hospitals, schools, supermarket etc is important. After these are sorted out, affordability comes next. A buyer should not go overboard with the property and invest only what is required. Going a little extra is understandable but the investment should not let the buyer compromise on the basic needs. All these factors are interlinked and neither can be overlooked.
Finding the right property at the right market are circumstantial. However, it is better to differentiate between the right product in the market and the too ambitious project.
Often the buyer’s need and wants contradict each other and with the absence of the clarity of emotional and financial rationale, buyer’s end up taking a wrong decision.
A better research on this subject can help both the buyers and the developers and bridge the difference between the supply and demand. According to the real estate analyst, it all depends on the location suitable to the buyer and how much they can invest.
Buyers often get caught between the value and the price point of the property. Sometimes they end up paying more money for the property. For the house they intend to use for themselves, they compromise on the quality of the construction and the property because they want to live in the desired location. They even compromise on their basic need for the same and overlook the long term needs.
There are four levels in choosing the right property:
1.Distance from the workplace
2.Access to daily requirements
3.Affordability
4.Location
The above mentioned are equally important and neither of them can be overlooked. Analyst suggests that renting a property just at the walking distance from the workplace is a better choice because not only it will save time but also the commute money. Location for the property is equally important. Choosing the property that is near the workplace as well as provides the basic necessities of a better social life, access to hospitals, schools, supermarket etc is important. After these are sorted out, affordability comes next. A buyer should not go overboard with the property and invest only what is required. Going a little extra is understandable but the investment should not let the buyer compromise on the basic needs. All these factors are interlinked and neither can be overlooked.
Finding the right property at the right market are circumstantial. However, it is better to differentiate between the right product in the market and the too ambitious project.
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