Purchasing any sort of highly profitable real estate for the purpose of investment, has a whole lot to do with location than just about any other factor that may be taken into consideration. Let us elucidate this point with the help of the following example:
Consider, if you will, the price of a particularly choice property in Atlanta and compare the price to the same size property that may have been located miles in the middle of the Las Vegas desert. Obviously, the former will be considerably more expensive than the latter, anytime. As a matter of fact, many of the key cities in Georgia such as the capital of the state Atlanta, Columbus, Savanna (to quote, but a few) are going through a veritable property high and as such are playing host to some of the highest rises in property prices, that may be found all over the region.
However, this is not just due to the fact that these Georgian cities are going through a population boom but also because of many expat workers who choose to come and live in the state of Georgia as permanent residents. Thanks to this abundance of highly skilled migrants not just from the US alone, but also pretty much all over the world, many of Georgia’s major urban centers have become both a haven as well as a magnet that is renowned the world over for attracting highly skilled individuals from all parts of the globe. This in turn has led to the property prices in Altana growing at a near constant rate.
And this concept of location is not just restricted to a particular city alone, but also its many areas and localities as well. Some neighborhoods in Atlanta for instance are known for being top end localities and easily command a median average of around half a million dollars. They are referred to as ‘posh localities’ and have the best of amenities available in the city. While others may be worth around 150 to 250k dollars depending on the amenities available in the area, as well as how crime free that particular zone may well be.
However, this is not always the case with all areas. Some more run down localities will not be able to command a premium price for a large number of reasons. It may be that the area’s residents do not choose to keep their area clean, well painted and generally allow it to go to ruin. These areas may be close to major thoroughfares or even other amenities, but the very outlook of the place can substantially decrease curb value altogether.
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