Property Selection is a critical element in selling commercial or residential real estate. No matter how great the prospects for the property, no matter how great the price, no matter what the selling proposition is, without a suitable property selection, no sale will be successful. No matter what kind of property buyers one chooses to work with – whether they work with an estate agent or not – there are many factors that have to be considered before a selection is made. When selecting a property, it is important to take these factors into consideration. This article briefly discusses some of these factors. It goes on to describe various criteria that may be used in the process of property selection.
Near Workplace: If you run a business in the local area, there may be a lot of businesses that could use your services. There are also likely to be people who would need to borrow money from you in order to purchase a property. In either case, there are going to be a lot of people who are either working in your area, looking for work, or who know that you are looking for work. These people are your prospective clients, and they need to be included in the selection process.
Near Workplace The first factor that should be considered in property selection is proximity to your place of business. You want to find properties that are within walking distance to your office. In addition, you may want to consider areas that are close to public transportation, schools, shopping malls, and other businesses that you know will be profitable if you do a good job. For example, if you own a business that offers mowing, landscaping, painting, and the like, you may find property selections that are in close proximity to the service providers that you provide.
Near School: The second factor that should be considered carefully is the proximity of schools to the property that you are interested in purchasing. Most of us have access to schools within walking distance. It is important to research the school districts in your community and the various schools that are available within those districts. If your property is not easily accessible, it may not be worth investing in. For instance, if your property is near two elementary schools, you will probably be charged more money by the lender to purchase than one school district that is closer to your prospective home site.
Near Shopping Centers: Property near shopping centers should also be carefully considered. Many properties that are located in shopping centers are highly targeted. In addition, the properties that are located in shopping centers are also normally considered higher risk than properties that are not located in shopping centers. Thus, lenders are more reluctant to lend money on these types of properties. However, if you plan well enough, shopping centers may be nice locations for your property investment.
Near Churches: Property that is near churches is also an important consideration. People who attend church services on a regular basis are likely to be interested in buying property nearby. Property that is next to a church is more likely to appreciate faster than other types of properties.
Property Located Near a Railroad Track: Property that is near a railroad track is usually considered to be lower risk. Again, this is because people who wish to travel by train to their final destination are unlikely to get in a car to drive to the property. Thus, they will most likely walk or take a bike ride. For this reason, the value of such properties is usually greater. This applies to homes near train tracks as well as those located close to other homes.
Property Is Close to Airport Freeway: You should also keep in mind the proximity of the airport to your intended property. Homes near airports are highly targeted and usually sell quickly. Moreover, these properties are typically priced to sell. Thus, they are good investments even when the economy is down.
