The moment you express your desire, for instance, for a small bungalow in Dubai or in Laurel Maryland, you are being specific about location, consciously or subconsciously. This is perhaps about the most important single factor in choosing the right property. By location, we refer to the specific area or neighborhood in which a unit of landed property is situated. A location can be right or wrong, depending on a variety of factors we will consider.Location is so important that a plot of land in one area could attract the price of a fully developed house in another, depending on the comparative advantage it enjoys. For example; a plot of land in Victoria Island Annex Lagos Nigeria was purchased for $335,000, a sum of money that would successfully pay for two (2) habitable houses in Tempe Arizona, USA. As soon as you start going round various areas or indeed, the moment you start looking through the pages of newspapers for properties for sale, the factors below start to matter. If you don't have a good knowledge of the area you are in, find someone who can enlighten you or guide you.
i) Density (Low, Medium or High Density)By this we mean the thickness of development and consequently the population. If the area is low density, then it is most likely planned, consisting of large spacious houses, widely spaced apart. Is this what you want or would you prefer a medium density area because you desire to have houses closer, so that you can relate with the people living there. Lastly, some people prefer high density areas where the houses have very little space between each other and have six to eight different families living in the same house. The higher the density, the higher the population, and perhaps, the lower the density, the higher the quality of life. Consider the facts and don't just choose blindly.
ii) Access to the Area:Imagine that you are going to a beautiful house but the road is untarred, full of potholes and really bad because of erosion - lack of drainage for rain water to be channeled, or areas of bad weather causing too much snows in the winter. This describes a lot of houses you may be taken to. In this situation, you consider the difficulty of driving through rough terrain all the time. On the other hand, let us consider a house situated inside the deep recesses of the neighborhood you want; the road tarred, it is winding and bending until you finally reach your destination. Consider that you may not always be able to get a cab or taxi to come so far into your area. It really works both ways, but you should be aware. There may be other considerations to bear in mind.
iii) Growth Potential: (New Area)Before locating in a new area, you must be certain that the growth rate of the new area is fast. This is easy to estimate by the pace of development and the volume of construction going on. If you don't watch it, you could be isolating yourself because you might opt to buy a house in a new area and find out you don't have neighbors for a long time, thus facing security risks. Sometimes, it may be wise to approach the local government authorities covering such areas, to find out what plans they have concerning developments, especially as the vendor may be telling you that the government would soon do this or that. It is not always true.
iv) Neighbors:No, this is not the popular soap opera! It is vital that you know your neighbors are likely to be in your area of choice. It is not compulsory that you begin to go around for their names. However, your neighbors should be people of like mind with whom you can relate on common issues. On social grounds, you should know the character of the residents, their work background, etcetera. No one can determine who your neighbors should be for you. Some people deliberately want to live among under privileged people because they have a goal to help or just want to be recognized in their area. Find out these details and what you need to do to avoid making a wrong choice of your choice of your house or building.
* Ejizu, Tochukwu Chima is an Estate Consultant and Entrepreneur. You can have more detailed gist at http://www.propertycafe.info
This is the information about the location of your building or house you can get more gist go to http://www.propertycafe.info
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