Why Location Is Important In Real Estate

Mar / 22 / 2021

Why do people think of Cantonments, East Legon, Dzorwulu, Roman Ridge when they think about their dream homes? While some people may consider price as an important factor when looking for a property, it is even more crucial to take into consideration the location of the property. When your property is located in an upscale area, the demand for it will be high. This will affect its selling price and in the long run, it's worth it. The same property, if located in a queer area will not have the same appeal and won’t create nearly as much demand. You may pay what is a comparatively higher price when you purchase property in an upscale location. But the effect of this decision is that the property may yield more profitable options in the near future. This is one of the many benefits of purchasing a property from Devtraco Plus. A quintessential part of our business is ensuring that the location of our properties is both serene and financially profitable for the buyer.

Our properties are located in prime areas in Accra such as Cantonments, Airport Residential Area, Roman Ridge, Dzorwulu and Labone. Below are some reasons we prioritise locations.

Safety

Safety is a basic need for everyone. Our homes are supposed to be our safe havens and it is important that we are safest there. Another important aspect of safety is the community in which our homes are situated. A safe environment will take away so much of the stresses that are associated with going to extreme levels to protect your home. The goal is to have a safe home and not to be imprisoned in your home because of the unsafe environment where the property is located. You should be able to have guests visit and also have camaraderie with your neighbors without fear of assault, theft, or violence. This is why Devtraco Plus goes to great lengths to ensure the security of its properties.

Proximity to amenities

The location must match the profile of a potential buyer. What are their needs and demands? In getting answers to these questions, it is advisable to conduct thorough research about ownership, type and intended usage of the location you intend to develop the property in. A location with access to good schools, restaurants, hangout spots and scenic views is an important factor for residential property valuations. The closer the property is to such social and essential amenities, the higher the value of the location. Many homeowners are willing to pay for properties in such locations.

Where the property in question is a commercial property, proximity to public transit hubs, freeways, markets, are an important factor for commercial property valuations. It is therefore imperative for a real estate company to have a purpose for what the property is meant for. This will serve as a guide in deciding on the location. This is why Devtraco Plus’ properties have good proximity to essential places like financial institutions, the best schools and healthcare facilities.

For many people, the thought of having their kids travelling long distances to school is highly unwelcome. Children in their formative years need a lot of rest to help develop their brain and psychomotor skills. This is why DEVTRACO Plus properties are always situated by the best of schools in Ghana. Our properties in Cantonments are close to Excellent schools such as Ghana International School, Morning Star School etc. Our properties in Roman Ridge also share close proximity to the Roman Ridge school, Lincoln Community School, Alsyd School and many more brilliant institutions.

Real estate is limited/immobile.

A major characteristic of real estate or any real property is that it cannot be moved. Let us assume that you own a piece of real estate in a low-crime area. Over time the neighborhood begins to encounter lots of criminal activities and becomes very unsafe for its occupants. The property owner can sell the property to someone else but the fact is, the estate cannot be moved. It still remains where it is. The environment where the property is located has become unsafe but the property itself cannot be moved. The condition of a home though can be changed; size for example, but the home’s location can never be changed. It is therefore imperative to consider this point when planning on where to develop that property as the property’s value may be affected in the long term.

Increase in demand & Value Appreciation

Real estate investing is an excellent long-term investment if the property is located in a good community. A good community includes not just a safe environment with all the necessary local amenities but an environment that has bright prospects; an environment with potential for other investment opportunities. A good location creates desirability because people will always go in for nothing but the best. Desirability will create demand and demand will definitely lead to an increase in the value of the property. This will be to the advantage of the real estate company or the investor. It is important to note that supply and demand will remain two dominating factors that will always play a big role in real estate appreciation.

As much as real estate is immobile, it appreciates to great measure. The better the location the better the rates of appreciation. That is why DEVTRACO Plus ensures that its property is situated in the choicest parts of Ghana. Our properties are usually situated in Cantonments, Roman Ridge, Dzorwulu, Tema and many more affluent towns in Accra.

The cost of a building or a property in these areas will double and triple in a year or two. That’s why it’s essential to purchase your property from DEVTRACO Plus’s affluent properties.

Transportation

Most people do not consider the value of living in a place close to work. You will spend less money on fuel, transportation and time when you are located in an area that has good proximity to your workplace. Most homes located in such prime areas or close to town might be more expensive, however, there is a greater value in having your workplace close to your home than having to spend over 2 hours in traffic and driving back home.

As a result of all of these factors, and more, Devtraco Plus is very particular about location selections for our projects. We build in such prime Accra sites as Cantonments, Airport Residential Area, Roman Ridge, Dzorwulu, and Labone. You may schedule a viewing of our properties via https://devtracoplus.com/purchase/application-form/. Additionally, you may visit Devtraco Plus office on No. 8B, Sir Arku Korsah Road, Airport Residential Area or call 0302798692

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