What makes a location good?

We’ve all heard people say “Location, Location, Location”, and that location should be the top priority…..but what does it really mean?

In a nut shell, location has to do with a spot on the face of the earth that people want.  One person’s poor location is another person’s dream location……and the value goes up if more than one person considers it a good location too!

In Lexington, most long time Lexingtonians divide the town into north and south.  They consider the north a bad location and the south a good location.  Seems to me that anybody that has moved here since the early 1990’s divides the town into a few more categories:  North, South, Hamburg and Masterson/West.  Well, there is downtown too I guess, but it is still a niche market.  For really long-term Lexington folks, there is really only one spot they consider to be truly Lexington, which is inside New Circle Road.  To them, anything outside the circle is farm land that was pillaged to make room for me and you to ruin their fine town.

Just from my own experience, I see people who are drawn to each location for different reasons.  Some people like the Tates Creek area because it isn’t too far from anything.  Some people don’t want the Tates Creek area because nothing is extremely close.  Those folks tend to like Hamburg or closer to Fayette Mall.  Masterson Station is considered by many to not be a good location, but it sure works well for people who work on the west or north end of town and for those who need to be in Frankfort or Louisville.  Hamburg, which, btw, we use to call Andover back when Hamburg was only the farm, is hot with people who need to be by the interstate.  I could go on and on and on, but the bottom line is that different parts of town attract different people for different reasons.

Most people pick their location for access to work, quality of schools, the crime rate, proximity to shopping/dining/entertainment, and what the area looks like.  I rarely get an in-town buyer that doesn’t want at least several of those for their next house.  When you buy a place, try to get as many of those as you can.  The combination doesn’t really matter because I can tell you, houses sell all over town.  Take Hartland.  The school district isn’t all that, but it offers many of the other items.  There really isn’t much retail/dining/entertainment near Masterson, but I have several happy clients out there who really like it.  Parts of downtown don’t have any of that except good looks, and they sell too.  About the only places to avoid are neighborhoods that don’t have any of those desirable qualities….unless you plan on living there forever because nobody else will buy it.

 

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