04/01/2015
Forty years ago my father, a Pennsylvania Real Estate broker and Pocono real estate developer, authored a brochure titled “Location, location, location”. We’ve probably all heard this mantra before. It is the answer to the question, “What are the three most important things to consider when buying real estate?” Why does that answer still hold true, particularly for residential real estate. When considering a purchase of real estate many factors come into play – price, zoning, style of home, condition of home, etc. But all of those things are subject to change. You can negotiate price, at times you can even appeal zoning, you can repair, remodel or even rebuild but you cannot change the location of the real estate. It is the one constant attribute of real estate. So whether you are on a lakefront or atop a mountain with a scenic view, in the city, or next to an industrial park, location matters. That is why it is always worthwhile to do a little extra investigation up front when setting out to purchase real estate. Find out as much as you can about the location and what surrounds it. Very little else will have as great an impact on the value of the property and your enjoyment of it.