Location, Location, location, a universal phrase, its origin questionable and debated upon by enthusiasts everywhere. Nonetheless, this mantra is used by real estate professionals spanning the globe and there is no truer statement. Trite so it may seem, the fact is, location is everything.
In my years in real estate, I have been, in what seems like, thousands of homes. I have been in the most beautiful homes dripping with elegance both on the interior as well as exterior, but to the dismay of the Sellers, building on that lot with the hobby mechanic next door may not have been the best choice. Buyers just don’t love the idea of spending for the opulence of the interior with Deliverance next door. If you are too young for that reference, let’s just say that it’s not the neighbourhood you want to live in and raise your children.
Conversely, I have been in homes that were, what I would consider condemned, but outside, a Garden of Eden awaited and right around the corner from the bus stop, the grocery store, and the bank. With privacy and high-end homes surrounding this less than perfect shack, buyers line up to jump at the chance for paradise found.
As a buyer, you can certainly polish that less than a perfect shack, but you can not polish the neighbourhood. As a Seller, my advice to you would be, to take an unbiased look at your surroundings and what your location has to offer. If it’s not great, save your money and don’t invest in more polish. Instead, listen to your realtor and take it on the chin. Your next home may be that diamond in the rough in the ideal location that might put money in your pocket.
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