-By Rohit Kharche, Director of The Baya Company
When it comes to real estate, the basic mantra is ‘location, location, location’. This is because it is undoubtedly the dominant factor when it comes to property and lifestyle and is the driving force behind its value and future appreciation. Your address is simultaneously also a crucial factor in shaping up your future accomplishments, lifestyle and goals. Whether it is with an investment point of view or a desire to grow and better your lifestyle, the location is an aspect that needs thorough research and thought before buying a home.
Believe it or not, your location has a great influence on how you live, your growth trajectory, your lifestyle choices and even your ambitions. An area that has a lot of commercial spaces, nearby offices and hubs will see a lot of presence of neighbours that are young professionals and the upcoming leaders of various fields. A thriving network of influential neighbours will spill over to your life’s progress and growth tangent. A place like this is the perfect location for those looking at an ambitious, upgraded lifestyle and a pace of life that keeps up with global developments.
The surrounding infrastructure and amenities play a key factor in the location’s desirability. A location that has multiple and reputed hospitals, schools, colleges, restaurants and malls nearby will always see a lot of demand, especially from young home owners. The accessibility of not just the location but the access to these places around is important as convenience and comfort are basic necessities associated with the perfect home. Additionally, a home near multiple railway and bus stations and various roads will always see growth and appreciation in the future.
An area with a lot of activities, people and multiple travel options is considered as a relatively safer neighbourhood. So, a location that checks off these aspects gives you the benefit of having a secure and safe neighbourhood for you and your family. And locations with little to no crime records always see a constant demand and appreciation in prices. Safety being a basic tenet of the idea of what is considered as a ‘good location’, this aspect is crucial when looking for a perfect home.
Apart from these factors, a pivotal aspect that shapes up any place’s identity is its architecture, layout and overall aesthetics. When someone talks about a desirable address in Mumbai, inevitably what pops up in the minds of almost all Mumbaikars is South Mumbai due to its elaborate buildings, roads, tourist and leisure places, etc. The overall look and appeal of the place impacts its demand and pricing as buyers are willing to spend for a wholesome life. Many people think of it as a one-time investment for a better life for their family and a much better future fuelled by growth and developments.
A thorough research done well in advance about the various factors of the shortlisted locations can help you winnow out the best of homes in the areas that have a lot of potential.