Why you may have to buy that property irrespective of location.

[Etini]

I understand perfectly that when it comes to real estate as a business, location is important. But permit me to move away from this norm based on personal experience. The first property my uncle ever bought was relatively cheap. He bought the property for about $370. The land was able to contain a 5-room standard apartment with parking space for two cars. At the time, that location was not developed. The locals there that had landed properties in that area were offering to sell to him at ridiculously cheap prices, he had the money to buy 20 of such properties. He refused to buy citing the bad location as a constraint.

The man even moved out of that location to another place and sold out the property. A few years later, a university campus was opened in that area, and within a twinkle of an eye, that location became developed. Roads were built and economic activities picked up rapidly. The price of landed properties appreciated by 20 times the initial value. My uncle regretted it, saying he would have owned an estate there by now if he had looked into the future.

I believe rather than looking out for the development level of a location as a criterion for buying a property, one should look out for the potential for development.

 

[Heartstrings]

Well you have a point there but I believe it is based on what individuals wants and likes,in this life we live in,it is normal to have a regret at a time,aside him not grabbing the opportunity in the first place and later regrets it, personally I will said it's by grace,like what if he has something there and it wasn't of any favour to him. I believe there is a reason we don't know,why he didn't get to succeed in his plans intially.

Location really matters by the way and I have a similar personal experience myself but at the end of the day we thank God for not getting any property there because it was Definitely not a good place. There was a time my dad bought a land many years ago,he already started building on it but what happened? Everything was cleared and raised down during the riot,so no matter where, let's just hope for the best.

 

[Knowlopedia]

You may have to buy that property irrespective of location for a number of reasons. The most common reason is that you may need the property for business purposes. In this case, you may not be able to find a suitable property in the location that you want. Another reason is that you may want to buy a property in an up-and-coming area. This means that the prices of properties in the area are likely to increase in the future, so you may want to buy now to get a good deal.

 

[Shigobad2020]

As a real estate business and investor buying houses and land is our specialities and most of the time , the locations plays a major role in determining the profit you will make when buying a house , if you buy a building in an urban where the area is always busy , there is a tendency that you will make a huge amount of profit when you are reselling the house , but you need to renovate the house if need be .
There are reasons why you might need to just buy a property irrespective of the location most especially if its a house or land . Most real estate investors are wealthy and they dont rush in selling properties , so they prefer buying irrespective of the location , they buy lands in a rural environment or urban environments , leaves it to appreciates for sometimes before selling it at a more higher price .

 

[Mataracy]

Though location is also important while considering investment on estate stuffs. There are some places where by one will buy land and after two years or more than the place will still remain undeveloped. On other way round; there are some places where one will just buy land and within a short period of time things will just change and the initial price could have change drastically in which one will seriously make a lot of gain on it.
Land is more better at time to building because to realise the money spent on building after given it out for rentage will be very small.
This is the reason why I prefer but of land than building and estate at times.
Though if it were a develop place one can build houses there and there is a tendency that one will latter enjoy the place latter in future.
Location is at time important in siting a building.