When you are in the market for a home, how should you
evaluate the properties that appeal to you? There is an old cliché about the
three most important factors of a piece of property--location, location and
Some neighborhoods have a certain distinction that attracts buyers, but
there are other factors to take into account. A house in the best part of town
may have a few points subtracted if it is located on a busy street. There are
buyers who would like to be close to schools, shopping, and churches, but don't
want to live across the street from these facilities. You may want an easy
commute to your job, but would not consider a location close to the
"on" ramp for the major route into town. A location close to a airport
could be convenient if you are a commercial pilot, but could make it difficult
to sell even the most wonderful house.
As you balance all of the factors, remember that a location liability
which gets you a great house at a reasonable price, will probably require you to
pass a similar savings on to future buyers.