Why Location is Key When Choosing a Piece of Residential Property in Illinois

When it comes time to finding a residential property in Illinois, there are many things that you will need to take into account – commonly being the location of the residence itself. Ideally, you want a safe and desirable location with easy access to amenities such as grocery stores, restaurants, and schools. In this article, we will explore why location is so important when choosing a piece of residential property. We will also look at some factors that you should consider when making your decision.

Future of the neighborhood

It’s important to choose a neighborhood that has potential for future growth. You don’t want to overpay for a home in an undesirable neighborhood or underpay for a home in a more desirable neighborhood that is already fully developed. Instead, look for a neighborhood that is on the verge of becoming the next best thing. This may require some research on your part, but it will be worth it in the long run. Keep in mind that the best neighborhoods are often going to be more expensive to buy into, so you’ll need to be prepared to make a higher investment. But if you choose wisely, you could see significant returns down the road.

Schools

If you’re one of the families with school-aged children, you want to make sure you are in a good district with quality schools. The school district can have a big impact on property values. Homes in desirable districts are usually more expensive, but they can also be a good investment because they tend to hold their value better than homes in other areas. 

Crime

Everyone desires to live in a safe neighborhood. Crime is one of the leading factors in why people move to certain areas and not others. Low-crime areas are considered to be more ideal and therefore have higher property values. 

Crime can differ dramatically from block to block in some cities, especially in downtown neighborhoods. Using residential property crime rates and local police crime reports on the internet can help you determine how safe a neighborhood really is.

If you also have school-aged children, it is important for them to grow up in a safe and secure environment where they can play outside without fear.

Transportation

According to most surveys, residential property locations that provide easy access to groceries, restaurants, entertainment, shopping, and public transportation are seen as more desirable. These types of locations can save residents time and money by reducing the need to use a car for every errand or commute. They also offer more opportunities for social interaction and recreation. In addition, living in a city with great transportation options is highly considered since you won’t need to use your car all of the time. Some folks may not even need a car if public transportation is accessible and convenient. Consequently, these types of locations are often in high demand and can command higher prices.

For those in more rural areas, the need for public transportation is not nearly as important.  However, living in a location that provides you with relatively quick access to the essential needs continues to be important for everyone.

Amenities

Access to amenities is also one of the most important reasons why location is crucial. For many people, being able to easily run to the grocery store or pick up a carton of eggs is essential. The luxury amenities and other non-essential services can also contribute to a location’s popularity. If a location is within walking distance to yoga studios, gyms, restaurants, shopping, and entertainment, consumers will be more likely to consider it. In general, the easier it is to access the amenities you need or want, the more desirable the location will be.

Final thoughts

If you’re in the market for a new home, it’s important to think about your needs and wants – as well as where you want to live. Location is one of the most important factors when choosing a property, so it’s crucial to do your research and find the right area for you. 

Luckily, Midwest Farm & Land Co. can help! We have years of experience in the real estate industry and can assist you in finding the perfect home for your needs. Contact us today to get started!

References:

https://www.pewresearch.org/

https://studyinthestates.dhs.gov/

https://gw.legal/

https://www.knightfrank.com/