Things that Stop Buyers from Buying A Property
Nov 22, 2017 Home Trading Steps
When you think of buying a property, certain factors like budget, pricing, the home loan comes into your mind. But there is another factor that plays an important role in the buying process and also impacts the price of a property and that is location. Hence let’s see those factors which impact the buying decision.
Safety and security: buyers looking for a safe and secure locality to live in with their family. If a certain location is always in news for wrong reasons like theft, accidents etc then the real estate market of that locality tends to suffer. Even if the properties in that location are priced reasonably or even cheaper than the usual price range, then also buyers would not take any interest in that location.
Connectivity and transportation: for instance, you liked a very nice project that is equipped with all required amenities but in order to commute from that place, you always have to get stuck in jam. Also, that project might not be well connected with the prime locations like market, schools or office complexes around. And there are no proper means of public transportation to commute to those places. It becomes a huge problem for those who do not have their own private vehicle especially for the senior citizens who cannot drive themselves. These factors immensely influence the buying decision of the buyers. Locations that are well connected with other parts with the help of all modes of transportation like metro, autos or buses experience a higher degree of interests from the prospective buyers.
Electricity and water supply: water and electricity are the necessity of everyone’s life. Locations that suffer from electricity and water related problems, buyers usually don’t take interest in those respective localities. On the other hand, localities which do not have any such problems and have a proper arrangement for electricity, power back up system in place and offer continuous water availability experience a better occupancy rate. And buyers also take interest in investing in such localities.
Basic amenities: market places, parks, shopping centers, convenience stores, and hospitals are some of the basic amenities that are required for a smooth living. If these factors are available in a nearby location then the buyers also take interest in buying or investing in such localities.
If all these factors are not available in a nearby location, the real estate markets of that respective location do suffer. Although, buyers could get properties at a much lower price, but lack of these aspects can become a problem in future. However, if you think you can ignore these factors, then you might consider investing in such locations.
Safety and security: buyers looking for a safe and secure locality to live in with their family. If a certain location is always in news for wrong reasons like theft, accidents etc then the real estate market of that locality tends to suffer. Even if the properties in that location are priced reasonably or even cheaper than the usual price range, then also buyers would not take any interest in that location.
Connectivity and transportation: for instance, you liked a very nice project that is equipped with all required amenities but in order to commute from that place, you always have to get stuck in jam. Also, that project might not be well connected with the prime locations like market, schools or office complexes around. And there are no proper means of public transportation to commute to those places. It becomes a huge problem for those who do not have their own private vehicle especially for the senior citizens who cannot drive themselves. These factors immensely influence the buying decision of the buyers. Locations that are well connected with other parts with the help of all modes of transportation like metro, autos or buses experience a higher degree of interests from the prospective buyers.
Electricity and water supply: water and electricity are the necessity of everyone’s life. Locations that suffer from electricity and water related problems, buyers usually don’t take interest in those respective localities. On the other hand, localities which do not have any such problems and have a proper arrangement for electricity, power back up system in place and offer continuous water availability experience a better occupancy rate. And buyers also take interest in investing in such localities.
Basic amenities: market places, parks, shopping centers, convenience stores, and hospitals are some of the basic amenities that are required for a smooth living. If these factors are available in a nearby location then the buyers also take interest in buying or investing in such localities.
If all these factors are not available in a nearby location, the real estate markets of that respective location do suffer. Although, buyers could get properties at a much lower price, but lack of these aspects can become a problem in future. However, if you think you can ignore these factors, then you might consider investing in such locations.
Looking for property portal?
Related Articles
-
-
-
-
How to Relocate Without Any Hassle
Sep 10, 2019
See comments (0)
Write a comment
