5 Bad Locations to Avoid for Buying a Home
Location is the single most important thing to consider while buying or renting a home. It’s the location which determines the real price of a home. Good location properties always give high returns on investments. But like good locations, there are bad locations too. Bad locations make the property less desirable and should be avoided. Here are the 5 bad locations to avoid for buying a home.
Areas hit by recession
Economic condition of an area also impacts housing sector. People prefer to move in the areas with booming economy and move out if economy is falling. This is due to less job opportunities in the recession hit areas. Property investment in recession hit areas always falls. Therefore houses in areas hit by recession are not good for living.
High crime areas
People always prefer to live in the areas that have peaceful environment. Even people are willing to pay more for peace and security. But no one likes to live in the areas where crime rate is high. Therefore areas with high crime rates are the areas to avoid as property investment in these areas will yield no profits.
Disaster areas
Many areas are the disaster areas due to high chances of experiencing earthquakes and floods. Properties in these areas are least desirable due to constant structural damages and life threats. Homes in disaster areas are the least desirable and are bad for living or property investment.
Areas with old infrastructure
Many areas have narrow roads due to which vehicles cannot move easily. Similarly some areas have bad transportation links. These areas should be avoided if you want to buy a property. Living is hectic in these areas and investment gives no returns.
Areas with high noise pollution
An area with high level of noise pollution makes it undesirable for living. Houses which are near to factories, rail tracks, airports and highways have high noise pollution. People living in these areas have problems in sleeping, studying and resting. These areas are less desirable for living, have low investment returns and should be avoided.