Although everyone thinks they know what this means they don’t!
A good location doesn’t mean the best area in town when you are developer. If you buy in the centre of the best area then you are going to pay the highest price and that doesn’t leave you any room to make a profit.
A good location means somewhere on the fringes of a good area that in time can become part of that good area. Being near schools, public transport and green areas are essential when it comes to selling a property but being in the nicest street with the smartest post code isn’t. Some of the richest property developers in the world specialise buying in what most people would consider the worst possible locations, when in fact they are great locations for developing property making tons of profit, the trick is learning to spot these areas because often the only way is up!
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Posted: 18. February 2011 07:00