“In a home, the site is what matters.” Lao Tse, “Tao Te Ching” (400-600? B.C.).
Although Lao Tse was making a spiritual point, the metaphor evidently was already in use in the literal sense. We are sure, far back, our hairy ancestors had to deal, on a daily basis, with the question of where to locate their temporary shelters. The proximity to resources, the danger of predators or unfriendly “neighbors” made the consideration of location the oldest and most important criterion in choosing a site for a home.
These days there are no wild beasts roaming around, and unfriendly neighbors don’t really arm themselves to take over your home, but today as eons ago, the value of a location remains central to the value of your home. When a new home is built, the builder will set a premium for the best locations and a discount for the worst, such as a lot backing to a busy street. Location, as used in this context, is a very broad term that may include living in a particular city, neighborhood, or a school district. The consideration of location may also include your access to resources, work and transportation.
The choosing of any location is a decision consistent with each and every buyer’s unique circumstances. We remember a client who did not mind buying a home that faced busy 7th Avenue in downtown Phoenix. She said the noise and bustle reminded her of Chicago and that it was very comforting to her. However, the important thing for home buyers to remember is that, the better the location the better the investment. A desirable location is always in demand and your home may sell faster and have a better resale value.
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