Eight Reasons Why Location-Location-Location Rules Over Property Data

Written by Posted On Monday, 26 March 2018 23:50

location location location

 

May be you have heard about location, location, location rules of real estate business. This is the hidden mantra of success in real estate. This location, location, location rules over the property data and this is the only reason for growth or declining of a property. Location is a very important thing over property business. If you have the best property in the worst location then all of your investment will go in vain. But if you have a property in the best location, you can change the look of your property if it is not well designed. But if you are at the wrong location then you can’t move your property from that location. So your property may become best in shape or look but for being situated in the wrong location it doesn’t get much real value.

Location, location, location always dominates over property data. Your property data always depends on the location of your property. Let’s find out why location is important for your property data.

Perfect location means good chance of increasing your property value. It has been proven many times before. Your property value should increase if your property is situated in a location of good residence. Nearby schools, hospitals, institutions and scenic views affect over the property value and as well as your property data. Your property data will increase if you have a property with full of these institutions mentioned above. And if you have a property nearby the industries, the property value will gradually decrease. In that case your overall property data affects.

  1. Your location expresses the climate around and it has a vital influence over the property data. Suppose your property is in such a location were earthquake happens very frequently. So in that case clients won’t show much interest over your property. So this thing hampers the total property value and as well as your overall property data. Also condition of roads, raining amount, and other parameters affect over your property data. So, perfect location is a must need for increasing your property value.
  1. Demographic data of your location is also an important factor and it also has a big influence over the property data. Demographic data shows the density, population, growth rate etc of your location. The demographic data for every aspect has an optimum value. Huge differences from these reference values affect your property value. Growth Maps has improved a new technology which has the demographic data visualization feature showing local demographic growth. By analyzing the demographic condition of your location you can find out what is the property data of your property is going to be.
  1. Economic data is also important location related factor which can affect your property data. There are some economic indicators which also have an optimum value for a specific location. The more your location is economically active, the more chances are creating for rising up your property value. Some leading economic indicators are Gross Domestic Product, Gross National Product, interest rate etc. Economically active locations always get the high priority in property business. Growth Maps has also created new economic data based technology which shows you the visualized picture of the economic situation of your property location. This can be helpful for investors who want to invest in a specific property in a specific location. You can get the right data of that location to make better deals.
  1. Two lands having the same area in the same location can also vary the property data. In that case the property value depends on the usage of the property. It could be a residential property. Or it also could be a commercial property. In that case, the whole property data changes for them. Property which is situated near the road has more property value than the furthest property. So the location here is the significant fact which changes the property data for these two properties. Transport linkage is better for the nearest property form the road. So obviously the property value will be higher than others. So this location fact always rules over property data.
  1. Tourist location also affects your property value. But you have to make sure you the right type of property. Like, you can not build a house for your residence in such a tourist spot. This will decrease the property value of yours. But a property like bars, restaurants, and motel will be lot of beneficial in this case. In other words, business property in the tourist area just increases your property value day by day. Thus your property data varies for the location. To get highest property value you must setup the accurate property at the accurate location.
  1. Tendency of crime in specific location has a significant impact over property values. People won’t risk their life if your property location is more frequently crime active. For this reason property data get changed. So your property should be in a good place with lower criminal activities. Thus the whole property process is related to your property location.
  1. Colony is also a vital fact for property values. We have seen that people from different country and from different religion try to make a colony and stays there together. If your client is not from the same country or religion, he might never make a deal. For example, most of the people of our country don’t want to stay in Muslims community. They like to stay with their own kinds of people. Thus race and religion in a particular location changes the property value. Property data changes for this reason frequently with the variation of location.

Location – location- location is the principle of real estate business. It plays the vital role for changing all parameters including your property data. Accurate location with accurate property means higher property value. Remember one thing, shape of the property can be changed but the location of the property can not be changed.    

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