The Real Deal

Price and location, location, location

One of the phrases most often heard in the real estate business is "location, location, location." Location is perhaps the single most important criteria when considering the purchase of a home, and buying a home that may be the largest investment a person can make.

Affordability is a top factor as well. Home buyers presented with the choice of buying a lower-priced home in a lower -quality neighborhood or a higher-priced home in a better neighborhood, would do well to listen to what a Realtor has to say on the subject.

The answer might not be the same for everyone, since individual interests and needs also impact the choices made when selecting a home. Working with a real estate professional who knows the different neighborhoods within a community is essential in determining the best location for a potential buyer.

Almost every potential buyer begins the home-buying process with an ideal dream home in mind. That can change quickly as price becomes a factor and priorities become clearer. While the dream might be a brand- new home with all the bells and whistles, the reality might be that an older home in a neighborhood that has good schools is a better choice. A Realtor can help determine the buyer's interest, priorities and financial position to select a range of possible homes to explore that will meet the specific needs or requirements of the buyer.

Some factors affecting location include whether the house is in a good school district, whether it's close to shopping or whether there is adequate public transportation nearby.

For families with younger children, a good school district is at the top of the list. It is a well-known fact that potential buyers want to live where the best schools are located. People choose to live in Saratoga, Los Gatos or Cupertino, for instance, because of the quality of the schools. Prices for homes and property values in these areas tend to be higher than in other areas where schools aren't ranked so high.

For a young professional, finding a home near good public transportation might be the most important factor, while a couple in their senior years might choose a home that is close to a shopping center or an easy walk to downtown.

After focusing on location and affordability, the home-buying process can be narrowed down to a specific neighborhood. Then, it's important to find out whether the characteristics of the neighborhood suit the potential buyer's personality. A Realtor with inside knowledge of the different neighborhoods under consideration is invaluable in helping a potential buyer find the right fit. The buyer can then make an informed choice about what best suits his or her individual needs. When all things are considered, the buyer may end up with his or her dream home after all.

To find a local Realtor to provide information about specific neighborhoods, check out the Silicon Valley Association of Realtors' website at www.siliconvalley-realtors.org.

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Information provided in this column is presented by the Realtor members of the Silicon Valley Association of Realtors at www.siliconvalley-realtors.org. Send questions on any topic to jnewton@jnpr.com.

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