Location, location, location. When looking for new homes in Richmond, it’s all about location. But what makes the location so valuable? Is it valuable just because some pundit or real estate professional said so? What happens in a down market? How do you define the virtue of a location? Here are few common sense considerations when mulling over someone’s suggestion to purchase prime Richmond real estate.
- Proximity to supplies: How far are you from a grocery store? Most people don’t have the time necessary to farm all their own food. Picking up fresh apples at the store is much more convenient than competing with wild life to pick apples off the tree in your back yard. Plus, you can get apples around the clock at a grocery store versus off a tree.
- Proximity to education: Access to all levels of education is important. Access to an exceptional academic institution nearby will increase value even in today’s market. (more…)