In a real estate boom, buyers will clamor for almost any house that hits the market. This is great while it lasts, but unfortunately when the party’s over, the homebuyers who chose the best locations will be left holding property that depreciates at a much slower rate. This discrepancy is largely a result of a home’s location.
“Location, location, location” is a common mantra in real estate. And it’s good advice – except for one thing: most people have no idea what this really means.