How to correctly define the location of your next property purchase

In property matters, many professionals will tell you that 3 criteria are paramount for the majority of buyers searching for a property: location, location and… location. This prospecting constraint can be explained by various factors specific to each individual and has a direct impact on the price per square metre, particularly in large urban areas.

This is why, before deciding where you wish to purchase your next property, it seems essential to conduct genuine reflection on its concordance with your actual needs and your lifestyle. If location remains a predominant criterion, let’s break down the various elements influencing your choice, to ensure you’ve made the right one!

#1 A matter of taste

First of all, the wish to live in a specific region, near a particular town or on the edge of a given road, should not always be accompanied by justification. Like tastes and colours, location preferences belong to each of us and no one will hold it against you for not having an argument in favour of a place.

Unconscious habits may exist, as may a neighbourhood culture. These tastes may also result from a household’s social network, wishing to stay close to parents or friends, wanting to move closer to them or, on the contrary, away from them! Furthermore, the urbanisation mode, the construction materials used, and sometimes the colour codes may attract a potential buyer.

The first selection criterion is therefore a will that is not always explainable and may vary from one person to another based on perfectly subjective data. This point will only need to be called into question if your search struggles to succeed: perhaps the property meeting your needs in terms of size and layout, in this precise location, is not accessible to your budget.

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#2 A question of quality of life

Stemming from the first, our second point highlights the desired quality of life. This criterion is once again subjective, both in its approach and its components, but is always translatable into concrete requests. An inhabitant of large cities may define their quality of life by immersion in the urban jungle, the proximity of shops and leisure in particular, while an inhabitant of the countryside may praise the calm and absence of crowds. Between these two extremes, there are many nuances that fill with inhabitants the nearer and farther suburbs, countryside villages and isolated forest or mountain homes.

Quality of life may also depend on the level of sunshine, wind exposure, beauty of local sunsets, particular pollution, absence of nearby air corridors in short: a set of factors that depend only on you. We would however advise you, at the time of choosing to settle in a new region or even if you are considering moving to the neighbouring neighbourhood, to question yourselves on the elements that are important to you.

Finally, good quality of life is made possible by acquiring a property that corresponds to our needs. Adequacy with the budget is still to be examined to make the best choice, with compromises to be found if necessary.

#3 Proximity of important amenities

Next, verify that all amenities that are important in your life are accessible at a reasonable distance. Shops and leisure of course, but also green spaces if you own a pet that enjoys walks and you do not have a large garden. If you have children – or plan to have some – the proximity of schools and a nursery will be important.

The richer the area is in amenities, the more property prices will rise. Therefore, ensure you select a neighbourhood offering the services that matter to you, and only those. Be careful however, about too great proximity to bars for example, which would make the neighbourhood noisy in the evening and cause nuisance. Similarly for schools that are too close, which could save you travel time to take your children there, but become bothersome due to the noise caused or intensive traffic at certain times of the day.

#4 Focus on travel times

This brings us to the following point: travel times. Some people find it normal to travel an hour or more to get to their workplace, while others do not want to lose more than ten minutes on public transport. The search zone for your future flat or house must first and foremost take this criterion into account according to your preferences.

The daily life of your children should also be considered, to allow them to easily and safely get to their schools. Finally, why not prioritise proximity to loved ones you wish to visit regularly.

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#5 Beware of resale!

Final piece of advice: when acquiring a property, it is essential to anticipate its resale – unless you intend to live there for the rest of your life. Several scenarios are possible and notably the renovation of a property with a view to mechanically increasing its value. Nevertheless, it is always better to ensure that the neighbourhood is developing sustainably.

Indeed, small businesses that close, absence of new property construction projects or a large number of vacant properties may cause fear of value loss for the entire neighbourhood and difficulty in recovering, over time, your initial investment. The same applies to leafy neighbourhoods that experience excessive concretisation or unreasonable construction: the loss of quality of life may cause a decrease in demand and therefore, a fall in prices.

Finally, pay attention to major projects planned near the targeted zone: the development of new public transport may have a beneficial effect on prices, but the establishment of an airport or factory will cause fear of various pollution and prices will fall.

The location of your future property acquisition must accord with all your imperatives, but above all remain in line with your budget. Despite the certainties you harbour, other neighbourhoods may perhaps offer sufficient advantages, and at a more accessible budget: do not close yourself to critical examination of your imperatives if you struggle to find your happiness!