Importance of Location When Buying a House

• Workplace Distance
• Nearby Schools
• Public transport accessibility
• Peak-hour traffic
• Shopping malls
• Grocery stores
• Any parks for physical activity

5 Factors to Check for a ‘Good’ Location

• Your neighbourhood plays an important role in your lifestyle.
• Do Research about future development.
• Check Environmental factors like noisy areas, pollution, and public drainage.
• The travelling distance to your workplace.
• Check whether the site falls under a flood-prone zone.

The next session is all about the resale value of a property.

Be Sharp Enough to Check the Resale Value!

Resale value matters! Before falling for an aesthetic interior and fancy amenities, have an eye for long-term value. How will you do it, by the way? We have bullets for you.

• Check the connectivity, like metro stations, trains, and bus stops.
• Are there any reputed schools nearby?
• Commercial hubs and IT parks
• Shopping places, supermarkets.
• Healthcare facilities
• The crime rate of the area
• Walkable streets

Prepare a checklist and go with it. Choose the best location for good returns in the future. On that note, we are going to see how to check the future development of a particular location.

How Do You Know If a Location Has Future Development Potential?

Knowing the future potential of a place of particular location is a brilliant move. Just browse the internet about the upcoming developments, metro possibilities, and any future government projects. If there are any such projects, there is a possibility of an increase in the property value. Because future returns are a major point. In case you are running a business, you can also consider the population of the area.

How will you do it?

• Ask the neighborhood people
• Population
• Economic growth
• Infrastructure development
• Research with local bodies
• Urban development plans
• Check real estate news portals

What about lifestyle amenities? Read the next session.

Lifestyle Amenities are Important!

Once the practical boxes are checked, consider how the location feels.

• Does it offer the amenities you value – parks, gyms, restaurants, entertainment, or cultural activities?
• Think about the demographic vibe: Is it family-orientated or buzzing with young professionals?
• Don’t underestimate noise and air quality. You can avoid locations that are in industrial areas.

Is Bad Location a Big Deal?

A bad location is absolutely a bad deal.

• High travel expenses: think petrol, tolls, vehicle wear, and lost time.
• Homes in flood zones or poorly maintained neighbourhoods may come with frequent repair costs and high insurance premiums.
• Worst of all are the surprises: “We didn’t know this area floods every monsoon.

A bad location might affect our career goals, too. Let’s look at how employment opportunities play a crucial part in the importance of location.

Employment Opportunities Can be a Valid Point

Employment hubs are the heart of vibrant communities. You can invest in a property that is close to IT parks and earn good rental returns.

Areas near IT parks, business zones, and universities tend to have higher rental value and attract tenants consistently.

• With remote work on the rise, don’t overlook internet infrastructure or access to co-working spaces.
• A job-rich location also means better demand for resale or rental, ensuring your investment is always working for you.

How can one earn rental returns in a property that is located in a location?

Good Location Will Give Good Rental Returns!

Some people are interested in property investment. A good location will give you good rental returns. For example, if you buy an apartment near an IT park, you can look for tenants. IT people will be ready to buy a good rental amount if it’s a furnished property.

Or you can turn your apartment into a PG. Cities like Chennai, Mumbai, and Bangalore will have high demand for PG stays. Arrange some luxurious facilities; that’s it. Your rental income will be sorted.

If you find out and buy a property near a tourist spot or a beach, you can list the property on the Airbnb platform. Airbnb works locally as well as globally. Even a foreign visitor will be your guest and get a reasonable rental amount. But make sure your guest will have a nice stay.

We are listing some of the popular apps and platforms to list your property to earn a good rental income.

99acres

• Website: 99acres.com
• One of India’s largest real estate portals
• App available on Android & iOS

MagicBricks

• Website: magicbricks.com
• Popular for residential and commercial listings
• Offers home loans, legal advice, etc.

Housing.com

• Website: housing.com
• User-friendly interface and verified listings
• Good for rentals and new projects

NoBroker

• Website: nobroker.in
• Allows listing property without brokerage
• Offers paid services for marketing and managing

CommonFloor

• Website: commonfloor.com
• Offers virtual tours and real-time availability
• Good for gated communities and societies

OLX Real Estate

• Website: olx.in (Real Estate section)
• Classified-style platform for property resale or rent
• Direct contact with buyers

Facebook Marketplace & Groups

• App: Facebook
• Useful for local and quick inquiries
• Can be very effective for budget properties

Time to Wrap it Up Today!

A good location will give you a happy lifestyle. The good thing is that you will feel complete in your new house. We have discussed the 5 factors of a good location, resale value, how to check the future developments of a property, and a happy lifestyle. The importance of a location does not end there; we also talk about rental income possibilities in detail.

On that note, ASN Housing’s current project and the previous 4 projects are located in Chennai’s prime location, Chromepet. We know the importance of location; that’s why we chose the most happening location in the city. From Chromepet, it is just 15 minutes away to reach Meenambakkam International Airport. An electric railway station is just a few minutes away and offers effortless connectivity; in short, it's one of the perfect locations in this city.

Hey, are you a first-time home buyer? Check out our common questions for the first-time homebuyers blog. You will get a deep insight. And also read why ready-to-move apartments are good for first-time homebuyers; it would be helpful.