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The meaning of that phrase "location, location, location", has everything to do with how identical homes can increase or decrease in value, based upon their location alone. A good location clearly affects your home's present and future value. That's why location is so important when searching for homes and neighborhoods.
To help make the point, here's a simple example. Suppose two different houses were exactly the same. One being located on a cul-de-sac next to the park. The other was located along side a busy street that was next to a strip mall. Which home would you want to live in or buy? Which home would you be willing to pay more for? For most, the first house would be the most obvious and desirable choice.
When buying a home, you should expect to pay less to live in a marginal or poor location. And the opposite is also true. The difference in value of any two identical homes could be upwards of 10-20%, even in the same neighborhood. Because many home buyers get distracted by a home's interior features or seller incentives, the buyer sometimes forgets about LOCATION. Buyers sometimes think they've found a "good deal", but when it comes time to sell - that's when it hits them. They soon discover why their house hasn't appreciated with the rest of the neighborhood.
As a real estate consultant, I assist my clients by helping them determine the important things they should be on the lookout for. With the right coaching, home buyers are much more likely to buy a really good location, and make an overall great investment!
To get help with finding the right Denver location, just call Mike @ (303) 514-4000. I look forward to helping you find and maximize your next home purchase!
Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.
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The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir