In the game of real estate, location is the highest ace. Those who hold properties in less than desirable locations are compelled to fill their offerings with a lot of add-ons. The lot, or the piece of land where the property sits on is the primary price driver. Lots closer to the city center are generally priced higher than the ones that are not. Recent trends show that developers also improve the quality of living in the surrounding areas before breaking ground on the actual site. This move allows the lot to appreciate in value before being offered to the market.
For the longest time, you have been imagining your dream house - fenced around with concrete and shrubs, it sits on a corner lot in one of the upscale districts in the metro. When the time came that you’re in the market to make your dream purchase, you realized that more than the design of the house, the location is more important; and started to scout for your “dream lot” where the house of your dreams would be.