It's the old real estate adage, "location, location, location!" You're heard it time and time again, but what does it mean to you? A neighborhood can be many different things, but what makes a neighborhood great? MSN Real Estate's Melinda Fulmer gives us some insight.
- People and place: People in the area make small adjustments and improvements, and these small changes can add up to the perception of a larger movement within the community. When an area is "up and coming" it usually means it is seeing a number of things happening at once. Someone adds a small shop, a new park bench, or a new open-air market. These changes seem minuscule when they stand alone, but when paired together, they add up to the flourishing of the neighborhood's character. They allow interaction between community members, which results in, well, more change. In short, it's the character of the people that determine the character of the place.
- Location location location. This should actually read: opportunity, opportunity, opportunity! Access to well-paying jobs, efficient public transportation, and abundant shops and services all create opportunity for the people who live in the area to improve their lives, be it financially or socially. So opportunity and access to the utilization of these important community aspect are what make the difference when it comes to the desirability of an area.
The next time you hear someone say "location location location" ask them exactly what it means to them to be in a "prime" location. Does it mean great weather? Privacy? A good school? All of these aspects are important, but to each home buyer, what makes a community great is more than just a great lot.