It may be a tired, worn-out phrase in my profession, but "location, location, location" is worn out for a reason--it's everything in this business.
I recently helped a couple move to this area from the Midwest. Since they had no children, the school district was not a consideration for them. And since both were self-employed with an internet business, work location was also not a factor. Just about any house in their price range would work. Sounds easy right?....
Well, we looked at houses for weeks from one end of the market to the other. Since just about any house in the price range would work, just about EVERY house in the price range seemed right. It was very frustrating for them to decide. The ironic thing was that once they did find the right home, the biggest factor they cited on why they chose this home was "because of the area".
Even if you're moving within the zip code, it makes things easier to settle on a street or neighborhood. Even if you don't have children, the person who will buy your home when you eventually move on may, so schools should still be considered.
Location should also be a top consideration for investors too. Just because it's a rental doesn't mean that renters will live in a bad area. In fact, renters will pay more and will stay longer in apartments in nicer areas.
And location makes it easier to sell the "flip houses". Don't be tempted to buy that fixer-upper just because it's cheap. If you can't sell it (because it's in an "iffy" area), it doesn't matter what you paid for it--you paid too much! It is so much easier to sell a nice house in a nice area than it is to sell a nice house in a poor area.
I recently helped a couple move to this area from the Midwest. Since they had no children, the school district was not a consideration for them. And since both were self-employed with an internet business, work location was also not a factor. Just about any house in their price range would work. Sounds easy right?....
Well, we looked at houses for weeks from one end of the market to the other. Since just about any house in the price range would work, just about EVERY house in the price range seemed right. It was very frustrating for them to decide. The ironic thing was that once they did find the right home, the biggest factor they cited on why they chose this home was "because of the area".
Even if you're moving within the zip code, it makes things easier to settle on a street or neighborhood. Even if you don't have children, the person who will buy your home when you eventually move on may, so schools should still be considered.
Location should also be a top consideration for investors too. Just because it's a rental doesn't mean that renters will live in a bad area. In fact, renters will pay more and will stay longer in apartments in nicer areas.
And location makes it easier to sell the "flip houses". Don't be tempted to buy that fixer-upper just because it's cheap. If you can't sell it (because it's in an "iffy" area), it doesn't matter what you paid for it--you paid too much! It is so much easier to sell a nice house in a nice area than it is to sell a nice house in a poor area.
