In the past, commute times to work have played a large part in choosing a location when looking for a new home. Since the pandemic many people continue to work remotely, either full or part time, so work commute time is less important. However, when you’re looking at big-picture investment, the first thing to consider is always location, because that can’t be changed.
Proximity to grocery stores, restaurants, parks, and the other elements that make up a town or community can still make or break your enjoyment of your new home.
If you have children, what are the schools like? Is the house on a busy street? Does it back up to a parking lot or apartment complex? That will never change. Sometimes you even have to look at what’s going to happen behind the house. What does the city or county have planned? That might be a green belt now, but not in the future.
“When we were looking at a home with pastoral views, we noticed some minor construction work in the distance. After some investigation, we discovered that it was the start of a major roadway that would be cutting across that lovely landscape. That helped explain the lower cost of that house compared to others, and decided it was not for us. Years later, that has become more of a suburban landscape, with strip malls, restaurants and miles of townhomes. We made the right decision.”
Location can also affect your taxes. For instance, if you compare homes in Baltimore City, to those in the county, the city taxes are considerable higher. However, the purchase price of homes in the city can be significantly less than the same home in the county, so it may balance out in the end.
If you are working from home, check out the internet availability, and if the speeds will be up to handling zoom meetings and large uploads. In rural communities, you may have only one choice, and it may not be a good one. With no competition, you are at the mercy of their prices.
So yes, in the end location DOES still matter, so always make it your number one priority.
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