Finding the right location is perhaps the most crucial aspect of buying a home aside from having the funds that you would need to buy it in the first place. 

One of the major concerns while investing in real estate is the choice of location. As a key component of your home buying process, getting a good location is as important as getting the right property for a number of practical reasons. Starting from its core value to local transportation, climatic conditions to provision of services, and type of community to its immediate surroundings, the location of your home can play a rather dramatic role in your day-to-day life as you move and start to live there. 

Besides, it’s the one thing that you won’t be able to change afterward, unlike the financial plan and physical state of the property which you can modify at any point.

Finding the right home is an adventure – sometimes a long and arduous one, but exciting nonetheless.

Fair warning: the reality of the house-hunting experience is often more emotional and uncertain than homebuyers might expect.

Not to worry, though. We’ll cover all the nuances of finding the perfect house for your new beginning. 

Here are the things you might want to consider to find out if you're at the right home and location.

The Budget - Knowing how much you can afford to spend, or borrow is where your quest of owning a home would begin. Something you’ll have to figure out before reaching out to agents and sellers in the real estate market.

Evaluating your income, savings, investment funds, or any other liquid assets that you might have been a great way of figuring out your budget regardless of whether you’re buying the home in cash or through a mortgage loan option such as a home loan.

With an estimate in mind, you can easily filter out the locations that are expensive, unattractive, or too low in their resale value, which brings us to our next step of finding the right location.

• Know your must-haves in property type, location, and amenities before you start looking

• Be candid with your real estate agent about what you’re looking for in a home and neighborhood

• Understand how much you can afford and your loan program’s requirements

Facilities- Knowing where you want to live is essential to finding the right house. A great property that’s on the opposite side of town from where you work or where your kids go to school is not worth seeing unless you’re OK with seriously extending your commute.

Commuting to work or school is one of the most time-consuming everyday tasks. Choosing to invest in a location, comes with the choice to move closer to either of the above. Luxury flats in Chennai are usually located close to schools and hospitals. Such areas also come with parks and have better access to uninterrupted electricity and water, and other facilities. Not only are you within walking distance or a short drive away, but it also helps you bring a balance to your personal life and work, without having to spend precious free time commuting. In times of emergency, you are sure to reach the hospital on time. 

• The commute: How will your move to a particular area affect your commute? Does it shorten it by half? Or will you spend even more time on the road than you already do?

• The surrounding town or city: How far will you have to drive to pick up groceries or go out to eat? Is the neighborhood walkable? Are there parks, community centers, or entertainment venues? How far are you from doctor’s offices or emergency services?

• The school districts: If you have school-aged children, will they need to change schools if you move? What is the local school district like? How many options are there for education, daycare, and recreational activities?

Transportation- Look out for places that are closer to public transport facilities. Is there a large bus stand or railway station nearby? If yes then the location will surely appreciate in value. In addition, you have access to public transport to work, saving you the rigor of driving your vehicle to work. Access to public transport also places you at an advantage when it comes to outstation travel. Your home need not necessarily be located near the central bus stand, railway station, or airport, but just have access to intermediary transport that can get you there with ease. Being able to commute between your home, office, and other places are one thing, but being able to communicate and meet up with your old friends, family, and neighbors whenever you like becomes an entirely different prospect once you make the move from one location to another even if it’s in the same city.

Neighborhood's Social Circle- If you are looking at an area close to work, you are sure to find other people working in the same office or building, other kids who attend the same school or college as yours, living close by. There is also the choice to live in a community with neighbors who favor a similar lifestyle to yours. When there are similar backgrounds, be it economic, cultural, or religious, it helps you connect socially in a more organic way. There are people to attend events with, plan playdates for kids, easier to get someone to babysit while you catch up on chores or an evening out, etc. 

Investing in a popular area in the city might also keep you within walking distance of malls, restaurants, and movie theatres. This means there is no shortage of entertainment and that your evenings and weekends are taken care of. n any case, it’s helpful to explore the best neighborhoods you’re moving to in advance so as to avoid any misunderstandings at a later time.

For that, you might want to take a good look at the nature, belief system, and way of life of the local residents of your new community, and whether or not you’ll be able to cope with them in the new location. 

Security and Safety - One of the primary concerns for homeowners is the level of security that they can get in a new place. And that includes instant health care, fire emergencies, police support, and protection against any criminal activities or possible danger.

The prime concern of any homeowner would be the safety and security of their family. It is important to live in a locality that has low crime rates, within a community that has lots of security measures. Most luxury flats in Chennai are located in such areas by default. They want to provide their residents with a sense of comfortable security. There are security personnel, CCTV monitoring, well-lit common areas, fire-fighting equipment, etc. that ensure the safety of your loved ones. The areas around these communities are also monitored with street cameras and frequent police patrols. You can never have enough of these measures when it comes to your loved ones. You can even check on the crime rates within the area at your local police station. A home or location without a safe neighborhood is likely to have little or no value than the one with low crimes and higher security. So don’t forget to check the crime rate of the location when making the decision. 

The Home Features & Amenities- Home features and amenities can be a pivotal point in choosing the right home. For some potential buyers, there is a “make or break” list that they simply won’t budge on. This can include everything from the minimum square footage to features such as a pool, fireplace, or media room. 

And while it’s okay to look for locations that are complete with basic amenities and natural features, what’s also important is to know where a particular city/town would stand 5 to 20 years down the line as far as its infrastructure is concerned. 

Any plans to develop the area can seriously raise the market value of your house in a rather short period of time. And therefore, it becomes apparent to be aware of future plans and projects that local authorities might have made for the development of nearby vicinity be it in a public, commercial, or residential space. 

So, what are your absolute must-haves? A few to consider:

• Square footage: How big do you want or need this home to be? Some homebuyers want lots of space for entertaining, kids, having older relatives move in, or for a home office and hobbies. Others prefer smaller homes because they prefer a more minimal or eco-conscious lifestyle

• Bedrooms and bathrooms: Do you need extra bedrooms for an office or a guest room for family and friends who visit frequently? Try to imagine how your needs might expand over the next few years to decide how many beds and baths you’ll need to be comfortable

• Common areas: Is there enough space for everyone in your home to unwind, be together, or feel like they have their own corner of the home?

• Finished basement: This isn’t a must-have for everyone, but many homebuyers seek out finished basements for extra storage or versatility as entertainment rooms, home gyms, or additional living areas

• Office space: If you’re one of the many people who started working remotely during the pandemic, dedicated office space may be high on your priority list. If a house doesn’t have an extra bedroom for an office, look for lofts or other rooms that can be at least partially converted into a work area

For that reason, you should get preapproved before you start looking at houses. A preapproval letter tells you how much house you can afford and which loan programs are available to you. And the loan program you plan to use will affect the properties you can buy. However, make sure not to go over the top with it. The more centralized a location, the more the crowd, and the more the noise. So, the best way to approach this is to go for a location that is within the radius of basic amenities, yet isolated enough to give you the coziness of a home, all the while giving you a higher resale value should you need to sell it in future.

Buying the right home begins with finding the right location. And it all starts by figuring out your budget, the future value of the property, and the standard of life that is available in a particular location.

The more developed a location, the more the demand, the higher the prices, and the other way around.