The mantra of real estate sales people has always been location. location, location. What matters when you buy a house is determined by a number of things.
There is the financial part: price/affordability, mortgage rates, real estate taxes, closing costs, insurance premiums.
There is the physical part. Buyers look at bedrooms, kitchens, bathrooms, living rooms, dining rooms, backyards, garages, appliances, landscaping, lofts, attics, rooms over garages, fences.
There is the emotional part. Colors, paint, wallpaper, wood floors, ceramic tile, carpeting, moldings, closets, and lighting all make an emotional impression on buyers.
What physical, financial, or emotional parts of a house is the buyer willing to trade for the perfect location in regard to:
- The grocery store.
- The post office.
- The church, synagogue or mosque.
- The bank.
- The hairdresser, barber, and manicurist.
- The pharmacy.
- The hardware store.
- The box store.
- The liquor store.
- The gas station and car repair shop.
- The doctor, dentist, optometrist, chiropractor, and hospital.
- The pizza place, Chinese restaurant, fast food stores.
Location, location, and location are the three principles of home buying.