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“Location, Location, Location,” Explained

Posted by Sarah-Kathryn Bryan | Apr 09, 2024 | 0 Comments

The location of a property plays a crucial role in its value and desirability in Anchorage. Here are some key aspects of location that can influence property value.

Proximity to Amenities

Let's zoom out for a moment. Living in Anchorage makes us some of the luckiest people in the country. We're minutes away from hiking, skiing, or whale watching, depending on the season.  If you're considering buying a home in Anchorage, you're already on the right track.
However, homebuyers are acutely interested in the feel of the neighborhood where a property is located. Properties located near amenities such as schools, parks, shopping centers, restaurants, and medical facilities tend to be more desirable. Convenience and accessibility to essential services are important factors for many buyers.  

Neighborhood Quality

The overall quality and reputation of the neighborhood can impact property values. Safe and well-maintained neighborhoods with a strong sense of community are often more desirable. Factors like low crime rates, well-kept streets, and a pleasant aesthetic can contribute to a higher property value.

Views and Natural Surroundings

Anchorage is known for its stunning natural beauty, including mountains, water bodies, and wildlife. Properties that offer scenic views or are in close proximity to natural areas can command higher prices. Many buyers are willing to pay a premium for homes with a view or easy access to outdoor recreational opportunities.

Transportation and Commute

Anchorage is blessed with relatively low traffic compared to similar cities in the lower 48.  Still, easy access to transportation options, such as major roads, highways, and public transportation, can enhance the value of a property. Shorter commute times and convenient transportation connections are highly valued by buyers.

School District Matters — Regardless of Whether You Have Children

The quality of schools in the area is an essential consideration for families with children. Properties located in highly regarded school districts or within a reasonable distance from prestigious schools tend to be more desirable and can have higher values because many buyers want to send their children to a great public school.  Therefore, even if you don't have children, living in a great school district can enhance the value of your home.

Future Development and Growth 

The potential for future development and growth in the area can impact property values. Buyers often look for locations with positive economic prospects, upcoming infrastructure projects, or planned community improvements, as these factors can contribute to long-term value appreciation.  

Work with a Knowledgeable Realtor

It's important to note that the relative importance of these factors may vary depending on individual preferences and market conditions. Working with a knowledgeable real estate agent who understands the Anchorage market can help buyers and sellers navigate location considerations and make informed decisions.  To get started, call Sarah Kathryn Bryan at 907-802-1023 today.

About the Author

Sarah-Kathryn Bryan

Sarah Kathryn Bryan is an associate attorney at Shortell Law LLC. Ms. Bryan handles cases in family law, business, employment, estate planning and general civil litigation.


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