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We’ve all heard the old saying, “Location, location, location.” It’s a well known adage in real estate for a reason. Location really is one of the most important aspects of choosing a real estate investment.
Is the area you’re considering a good location? Here are some things to consider. Do some research and find out if new businesses are infiltrating the area. Have there been a lot of new restaurants opening up? Or new banks or retail stores? Finding trends on where new businesses are investing can give you a clue to where would be a good location to make your real estate investment.
It could be though that an area is booming, but is it right for you? A great location for some, might not be for others. You can research the demographics of the population in the area you’re considering and know if those statistics will bring you closer to your real estate investing goals, whatever they may be.
And don’t forget about the nuts and bolts. Make sure to consider taxes, impact fees and resale values in the area. It could be that a demographically similar area just a few miles from your originally intended area is less expensive in these areas.
There are many things to consider when deciding on a location for your real estate investments. Let The Geneva Group assist you in determining how real estate investments can help you reach your financial goals, and what locations can help get you there.