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A good location simply means one where people will
always want to rent. This means that if you lose your existing
tenant you will have relatively little trouble finding another
to take up a lease and thus continue your income. It also
means that demand to rent your well-located property will,
over time, drive up rents.
For this reason, it is usually better to buy in an established
area rather than a new area with lots of bare land around that
will be able to keep demand satisfied for years to come.
A good location for residential property in many instances
means proximity to town or close to amenities such as shops,
schools, bus stops, parks, etc.
Good residential locations
tend to remain good residential locations, although over long
period of time, some will grow a little in popularity while
others may decrease. Sites near universities and the city
centre will almost remain good for rental property.
For commercial properties, generally accepted good locations
may be close to banks, near airports or seaports, or near main
arterial routes.
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A well-located
property is always in demand.
Established areas are generally good locations.
A good location is one which is close to amenities.
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