How Can You be Sure that It’s a Good Location for your Property

What’s the number one rule in real estate? One word: location. This principle is universal in real estate, and it equally applies to Thailand just as any other real estate market in the world. Buy a condo, villa, or house for sale in a great location, and your chances of getting a great return are guaranteed. Location is the one most important factor that superseded other qualities of the property, such as age, condition, and amenities. Ever wondered why so many people are willing to pay an exorbitant amount of rent to live in downtown areas of cities such as Las Vegas? Location matters!

What makes a location a great one? Should the property be located in the heart of the city to be a great one? Well, not always. Consider this case. You have two identical homes in a suburban development area. However, the one with a better view and that which is located near to the entrance of the city may be worth simply because of that one factor: location!

How to decide if your condo or house is in a great location?

There are a few key aspects that will determine the location value of your property. Consider checking these up when you are about to buy a property in Phuket.

The view from the property

Again, consider a scenario like mentioned above. Two houses are perched on a cliff. One of them offers a splendid view of the ocean and has abundant natural light throughout the day. The other house is located right next door but you have to get around a few trees to get a view of the ocean. Which house would you think sells faster? Of course, the one with the view of the ocean! The other house, although equally beautiful, will summon a lower price. A stunning view is often irresistible to home buyers. Other stunning views include skylines, mountains, or open fields.

Proximity to basic facilities

This is especially relevant for family buyers. Always do adequate research on the neighborhood. Judge its nearness to schools and shopping malls. How far do you have to go for grocery shopping? What are the entertainment options nearby? Finding answers to these questions would automatically lead you to a property that is worth the expenditure. Having all these facilities available within a mile or so should act as a great push for the buyers to purchase the property.

Nearness to natural and commercial attractions

A condo located near the beach is going to fetch more than one that is farther away. Other natural attractions include a hiking trail or a lake. These homes will be more valuable than those that are away by a driving distance. Nearness to commercial attractions like shopping malls and multiplexes are also important factors in determining the value of the property. Condos located at walking distance from public transportation also have better chances of getting a good price.

Conforming areas

People are more comfortable living in conforming areas. If you are an expat, you would like to have the property in an area where there are other foreign nationals. If you are a family with kids, you would want to buy a property in a similar neighborhood. It’s common sense.

Safe neighborhoods

Last but not least in the list is the importance of having a house in a safe neighborhood. Even if the buyer may not like the house at first, he/she may still buy it if it is in a safe neighborhood and renovates later. Finding a location with a low crime rate, stable local economy, and good communal activities will be able to fetch you a good price when you want to resell the property.

IBG property is a real estate agency that does not charge any fees from buyers. We conduct an entirely legal business selling villas and condominiums in Phuket.