|For the team at BentleyForbes, purchasing and selling real estate requires in-depth analysis of a property as well as its surroundings. Most importantly, BentleyForbes discourages a haphazard approach when embarking upon such a complex process. Here, the professionals at BentleyForbes offer guidance about selecting the right property – regardless of region or price range.
Oceans 2003: Thank you so much for joining us today.
BentleyForbes: You are most welcome. It’s a pleasure to speak with you.
Oceans 2003: So let’s get right down to it… What is the core focus of the conversation when you initially meet with a prospective real estate buyer?
BentleyForbes: Location is one of the most important concepts in real estate. That’s concept number one.
Oceans 2003: Why is location such a crucial aspect of this decision?
BentleyForbes: Location never changes. It’s as simple as that. Location cannot be edited, fixed or adjusted to fit the buyer’s needs.
Oceans 2003: What factors go into determining how the property’s location is evaluated?
BentleyForbes: There are several things to keep in mind. First of all, buyers are most drawn to homogeneous settings.
Oceans 2003: What exactly does that mean?
BentleyForbes: Condo buyers prefer to be in the general vicinity of other condos; the same holds true for one-story home buyers, apartment owners and so on and so forth.
Oceans 2003: Does the property’s position on the street or highway make a difference?
BentleyForbes: All other things being equal, house or other property located in the middle of a block holds more value than one found on a corner. Corners naturally have more traffic, which means they’re more dangerous. They’re noisier, too!
Oceans 2003: What else might affect the property’s location?
BentleyForbes: The quality of a neighborhood is a strong consideration.
Oceans 2003: How so?
BentleyForbes: A beautiful, eye-catching house located in an ugly neighborhood has less potential than a modest house found in an attractive neighborhood.
Oceans 2003: Why is this true?
BentleyForbes: Home buyers tend to be concerned about the condition of neighboring properties, as well as crime rates and other aspects that may affect their property.
Inland property, for example, is less ideal than beachfront property for a resident of Miami. Even with differences in the actual structure of the property, location is still the most prominent consideration. A number of other considerations are relevant as well, but location is the most important value of a specific property.
Oceans 2003: Can this information be beneficial for buyers?
BentleyForbes: This may actually be to the buyer’s advantage. If someone with a limited budget is on the lookout for a home, searching in an “up-and-coming” neighborhood can be the best place to start the process.
Oceans 2003: What potential pitfalls may a prospective buyer face in his or her search?
BentleyForbes: Well, it’s important to keep in mind that an extensive renovation project may not compensate for an undesirable location. In the end, buyers must make a choice depending on their own set of circumstances.
Oceans 2003: This information is much appreciated!
BentleyForbes: For buyers who want more information, we’re glad to answer any other questions through our website.
With Prudential Plaza, the Watergate building, and several other prominent holdings, BentleyForbes is a leading commercial real estate company.