Buying a home is a time-consuming process and it is also one that takes effort and dedication. This is not just because a house is expensive but because this might just be where you will spend the rest of your life. It is because of the very same reason you should be very careful about finding the right location for your home.

Importance of finding the right location:

Let us begin by first looking at why it is important to find that perfect spot for your home:

1)    It will decide the future value of your property:

Most of us might be buying our home for life, but it does not make sense even then to buy a home at a location where the value of your property will not increase. The primary factor that influences the value of your house (now or in the future) is where the house is situated. Various factors like the neighbourhood, proximity to the nearest town or even services like schools and hospitals can influence the value of your home.

2)    Being with the right crowd:
The location determines the crowd. This will decide who you will end up living with if you decide to live at that location. The right location will attract the right crowd and there is no doubt that you will most definitely want to be hanging out with the right one. Location determines what type of crowd love there and who will eventually end up as your neighbours. 

3)    Availability of Hospitals and Schools:
Health and education are two things we all consider very important. Availability of these two will vary depending on the location. Devoid of these, you will be stuck at a location that lacks facilities that many of the people consider vital.

4)    Transportation:
A location determines the accessibility to it. Many of the remotest areas in the country that might not be that expensive will be very hard to reach. The right location ensures your house is always within a reachable distance and thus saving you money and above all, time.

5)    Local amenities:
What matters to most of us is the availability of facilities like Grocery shops, restaurants, shopping, entertainment etc. A location rich with all the local amenities will ensure your property stays of value and that you also have a very comfortable overall living experience.

 Factors to consider before looking for a location:

Here are some of the factors you should consider that will help you narrow down your location options:

1)    Urban vs Suburban vs Rural:
 We suggest you look at this factor first, for it influences the entire decision-making process. The first thing to decide on is whether you want to settle down in a busy urban city or a rural area. This entirely depends on what you want but directly impacts all the facilities and amenities you may get. However, both of these choices have both advantages and disadvantages.  One of the most popular options now is the suburban areas where you are not detached from the city life but is yet staying out of the rush. 

 2)    Neighbourhood:
 No two neighbourhoods will be the same. Various factors change from neighbourhoods to neighbourhoods. We suggest you first consider what your lifestyle is and choose a neighbourhood that complements the same. Since you might be spending a major part of your life here, you want the neighbourhood to be welcoming and something that reflects your own lifestyle and values. For example, someone who loves going to temples might want to live in a neighbourhood that is close to a temple and that understands the value of the same. Also, as said earlier, where you live also determines the kind of crowd you will have to hand around with. This can impact the life of your entire family including your kids who will end up growing in the neighbourhood.

 3)    Risk of natural disaster:
 One thing that should not be overlooked is the chance of a natural disaster. Something unpredictable as such can greatly impact your life requiring you to temporarily shift or even permanently move depending on the severity of the disaster. For instance, if you decide your location to be near a beach, you are bound to be under threat from disasters that occur near the ocean. It is ideal to think twice about considering locations that are prone to such natural disasters.

 4)    Safety:
 All of us want our family to be safe wherever we live. Safety is the primary factor that many, if not all, of us, consider very important. Being in a safe locality and neighbourhood will ensure you have a pleasant stay and chances for a threat to life and property is minimal. It is ideal for you to look at and research about a localities crime rate and the availabilities of immediate responses like the police. The last thing we want is to settle somewhere that is not safe for your family.

 5)    Proximity to local amenities:
 We are all social beings. We love to hang out and at times go out to have some fun with family and friends. It is important for a location to have local amenities like grocery, restaurant, shopping malls, entertainment centres etc. Consider the availability of all these before finalizing the right property.

 6)    Educational institutions:
 Another important factor to consider is the availability of quality education in an area. It is impractical for your young kids to travel long to get a good education. Thus, consider the availability of quality education that you want your children to have and look for a location that is in close or near proximity to the same.

 7)    Healthcare facilities:
 Like education, give healthcare the utmost importance. Being in close proximity to good healthcare and emergency care will ensure you will not have to travel long in case of an emergency. Such a small and vital thought can sometimes be life saying. Thus, look for nearest hospitals and clinics at a location where at least emergency care is available.

 8)    Consider where you work:
 Riding or travelling to work is often where we all waste too much of our time. It is ideal for you to consider the location's proximity to your work so that you don’t end up spending too much time in a moving vehicle.

 8 Steps to finding the right location for your home:

-    Look for ideal locations on sale at the location you want (newspaper)

-    Hire a real estate agent (optional)

-    Visit the location

-    Research your neighbourhood

-    Visit the location during day and night

-    Ask your neighbours

-    Check the paperwork

-    Collect more information from local authorities

-    Finalize

Now that we have considered all the factors that can influence our buying process, let us dive straight into it. Here are eight steps to find that right location for your home:

Read more: Why Tripunithura is the ideal location for your home in Kochi.

1)    Step one: Look for locations that are on sale: 

After considering the above-said factors, it is time to go ahead and look for locations that are on sale. You can look for ideal locations at local dailies, real estate classifieds or you can start by asking around to your friends and family. This simple step can give you many leads on what locations are on sale and whether or not it suits your budget. This is your first step in identifying and shortlisting locations that are available around the area of your interest.

You can even hire a real estate agent to do this for you. A real estate agent can source, negotiate and finalize a specific location depending on your interest. He/she will be well versed in the real estate of the particular area and can aid you in reaching the right price. However, real estate agents will cost you commissions and that is why this is an option you can consider if you are strapped for time or if you don’t want to put in too much effort.

If you are looking to buy an apartment or flat then you can easily rely on the builder for necessary information. Details on the availability of houses will be easily available directly from them.

2)    Step two: Visit the location

Once you have found that right spot that suits you (after considering all the factors mentioned in the above section), it is time to visit the location. This is a key step and one that makes or breaks a deal. You will have to personally go and visit the location so that you can personally check the location yourself before you dwell in further research. The impression a location gives can immediately have an impact on your decision on whether to go forward with the purchase or not. Also, what looks good in a picture might not look good in real. Roads may be narrower or busier than expected. Thus, it is always better to check a location out by personally being there.

3)    Step Three: Research the neighbourhood:

After you have visited the location and if you are deciding to go ahead with that particular location, then next comes a bit of research. Here, you will have to search both online and offline for information about the neighbourhood. You will particularly look for the criminal background of the neighbourhood. You can also deeply look at the demographics of the neighbourhood. In case if you are looking to buy a home in a flat, you can ask the builder for details about other inhabitants and the entire neighbourhood. 

4)    Step Four: Visit location during day and night:

It is ideal for you to visit the location both at day and night. This is so because some locations that look comforting during the day might not be so during the night. It is also ideal for you to visit the same location at different times of the day so that you know it is comfortable at all the times. 

5)    Step Five: Ask the neighbours:

When you are visiting a particular location, make sure you go and meet the immediate neighbours residing there. Personal experiences about the location and neighbourhood can give you insights that no research can provide. You can specifically ask for information pertaining to the comfortability, availability of facilities like electricity, water or even basic maintenance. You can also get a very good idea of the neighbourhood by simply asking around.

Step Six, Seven and Eight are what follow after you have identified a location

6)    Step Six: Check the paperwork:

Now that you have done all the research and have asked around for vital information, you can now go ahead and ask for legal papers of the location or property you are about to be investing in. This is vital because this can ensure you are talking with the right owner of the property. This is a step that comes after identifying the right location

Also, only after verifying the legal documents can you understand the real dimension of the property you are about to invest in.

7)    Step Seven: Collect more information from local authorities:

Once you verify the legal documents you should approach local authorities for more information and validate the legal ownership of the property. By giving certain details (obtained from the owner) you can apply for documents like encumbrance certificate that will help you verify all the necessary details.

For more information on all documents that a home buyer should know about click here

8)    Step Eight: Finalize:

The final step is to take a decision.  That is, whether to go forward with the purchase or not. If the location meets all your needs and if you like the property, go ahead and invest in it. If otherwise, don’t do it. We will always advise you to think twice, even better, thrice before making a real estate investment at a location you are not familiar with.

If you have decided not to go forward, find a new location and repeat the steps again till you find that perfect one.

Conclusion:

Buying a home is indeed a complicated process and it all starts with location. That is why we have written this small guide to help you.

The above are some of our steps in identifying the right location. We hope you find it useful.

Read more: 10 things we at Lotus Properties looks for in a location before buying it. And why you should do the same too!