Love the House. But What About the Location?
Quick answer
A beautiful, well-maintained, fairly priced home can still have something nearby that affects how buyers feel about it. Here is what to look for before you decide.
REALTOR® with RE/MAX Journey and Mortgage Loan Originator, NMLS #2603041. Bilingual homeownership education with a local focus on Rutherford County and Western North Carolina.
Love the House. But What About the Location?
A house can be beautiful, well-maintained, and priced fairly — and still have something outside the property that affects how buyers feel about it.
In real estate, this is sometimes called external obsolescence.
Plain English? It means the problem is not necessarily the house itself. It could be what is nearby.
Examples of What to Look For
- A busy highway
- Railroad tracks
- Industrial property
- Commercial activity
- A correctional facility
- Power lines
- Noise
- Heavy traffic
- Or another nearby use that some buyers may not want to live next to
The Part Buyers Sometimes Forget
You are not only buying the house. You are also buying the location.
And even if something nearby does not bother you, it may bother the next buyer when you eventually decide to sell.
That can affect:
- How many buyers are interested
- How long the property may take to sell
- How much negotiating leverage a future buyer may have
- And potentially the property's market value compared with similar homes in different locations
Does This Mean You Should Not Buy the House?
Not automatically.
Sometimes the price already reflects the location. Sometimes the property is still a great fit. The important thing is understanding the trade-off before you make the decision.
When You Are Looking at a Home, Ask Two Questions
- "Do I like this house?"
- "Will the next buyer like this location too?"
That is part of thinking beyond closing day and looking at the home as both a place to live and an asset you may eventually need to sell.
Want more practical homeownership education without all the real estate jargon? Visit francinemira.com
Francine Mira | REALTOR® RE/MAX Journey NC REALTOR® License #326076 121 Laurel Dr., Rutherfordton, NC 28139 704-974-6460 francinemira@remax.net | francinemira@gmail.com
Francine Mira | Mortgage Loan Originator Mathewson Mortgage Capital LLC Company NMLS #2494312 Francine Mira NMLS #2603041 649 S Post Road, Shelby, NC 828-429-8368 francine@mmcapitalllc.com
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