Does Location Matters for Buying Property in India
There are many things that come in our mind, when we think about real estate. The
most important question that strikes us is where to buy the property. Location is
important, but is this only factor that should be given prime importance when you
are thinking of buying real estate. If you go back a few years, location was the only
factor, based on which properties were bought and sold. Values were determined,
on the basis of location. We cannot deny that location is important, but in terms of
real estate, this does not always really matter. There are other factors that need to
be considered, such as lifestyle of the area, space and connectivity.
Connectivity is indirectly related to location of an area. Earlier, people were
reluctant to buy in places which were remote mainly due to connectivity problems.
Places that are located far usually had communication problems, and people usually
spent a lot of time commuting. Today, transportation systems have improved to a
large extent, and even remote areas are well connected with different parts of the
world. Those who desire to buy a property mainly to stay after retirement, usually
choose a place that is far away from the hustle and bustle of the city. Hence
location of a real estate in this matter does not always matter.
If you are thinking is terms of budget, then location of real estate indeed matters a
lot. It is well known, that real estate located in metropolitan areas, or in centers of
a city or town, are more in terms of pricing. Property that is located in the outskirts
is comparatively cheaper, as the value of the real estate is low in these places. So,
if you have constraints in respect of budget, then location is a matter of
significance. Thus depending on your budget, you can choose a location.
If you get many kinds of visible advantages in property, then location may not
matter after all. A person may find a vintage property, a large swimming pool or
even a garden as an added advantage and not think much about the location of the
property itself. If the property has more advantages than its location, then the
location is not the factor that should be given much importance.
From above conditions we see, location does matter sometimes, but it is not the
deciding factor in the purchase of properties. A property can be brought anywhere,
depending on the amount, you are willing to spend, the advantages that you may
get, the people who are staying in the property and also on what purpose the
property shall be used. Once these factors are considered, it will be clearly evident
that location is not the deciding factor when we buy a property in India.
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