How To Pick a Location

I hate phrase " location , location, location" because I've seen a lot of idiots ruin good location and a lot of geniuses make incredible investments  out of horrible locations. you could hand over the location for Trump Tower ( by far, the best location in New York City ), and a moron could run the site into the ground. I guarantee it.

But whet it come to your home, you should always pick a good spot. Spending more on a good location is far smarter than getting a bargain in a bad area. Is it close to work? Is the neighborhood safe, or will you fear for your life as you come and go ? Is is close to conveniences such as restaurants, grocery stores, shops, and banks? Do you fell like you belong in the neighborhood, or do you fell out of place? I'm the first to  admit chat location should be considered seriously when investing in real estate. A lot of picking a location comes down to instinct. You have to believe in the location; otherwise, you'll be making a rotten investment .

 

be honest with yourself about the location's proximity to the rest of your life.If you fine an apartment or a house or an office you like that puts house of additional travel info your day, or requires expensive deliveries and service or prevents people  from visiting you,you might can me, but given Trump Tower (which certainly works for me), but given the choice, you should find the location that works best for you.

Walk around in the neighborhood. Spend time three. What's the pattern of the day? When does time three.what's the pattern of the day ? When does the neighborhood wake up and when does it go bed ? What sort of people are living three and working there? Also , make sure to check it out on the week . some neighborhood in Manhattan are insanely busy all week  and than dead all weekend, and vice versa. What happens it you move info an apartment and realize that there's a night club across the street blasting music each and every night or that garbage trucks congregate there after making the rounds in the early morning? you'll either go crazy or move out, neither of which are good options.

The view is important. I don't know anyone who wants to spend their life looking into an air shaft or brick wall.   If you have the option, go for the view. but you have to be careful with a view, particularly if you're paying for it.

 

The current view might look out over a parking facility or an empty lot, but that could change in a week. In cities like New York, buildings seem to be going up at the rate of one per day , so make  sure you have a good idea that the view there today  will be there tomorrow.

When you're speculating or inverting in real estate that will not necessarily server as your primary home or office, I often advise finding space in a marginal neighborhood, buying or renting at a lower price, and then waiting for  the neighborhood to improve. You'll save in taxes,make a meaningful contribution to the redevelopment of an area, and stand to make more money in the long run.If you have the time, the patience, and the fortitude,I recommend it . After all, when I bought up the West Side yards, people thought I was insane, but I've proved them wrong, as my  development there can attest. Today that area is one of the most desirable and valuable in all of Manhattan.