Location is arguably the most valuable aspect of real estate. You may have heard the overused mantra "Location, location, location" that has been used by real estate agents to signify its importance. According to Forbes, location is a sure indicator of value and profitability.

So crucial is a real estate location that the US government introduced a new federal incentive referred to as Opportunity Zones. Opportunity zones real estate, created under the Tax Cuts and Jobs Act of 2017, are specially designed to cater to investment programs. The Tax Policy Center describes Opportunity Zones as tax incentives to encourage people with capital to invest in low income and under-capitalized communities. 

So, If you are looking for some real estate financial opportunity, it\'s never too late to make some more money.

This has moved the capital from specific locations considered "good" sites for investment to areas across the nation in an inclusive manner, especially those that would naturally have been left out.

So, what are the factors of a "good" location in real estate?

Status of the neighborhood

A "good" location is subject to every person looking to purchase a commercial or residential property. It is dependent on one\'s personal preferences and requirements. However, whether you are looking into purchasing commercial property or home, a good neighborhood is a critical factor in selecting the location. Nobody can dispute that. For instance, areas with nearby parks, great curb appeal, easy access to roads, and public transportation are more desirable to property owners.

Proximity to facilities and amenities

How close are amenities like grocery stores, shops, restaurants? Are there late-night conveniences like hospitals and entertainment spots (if these are important to you)? A good location for a potential homeowner with school-going children will be more appealing if several highly ranked schools are within the vicinity. Property located in a reputable school district comes at a higher value. This will come in handy when you are looking to sell that property. The bottom line is, a good location should have these amenities nearby for easy access.

Safety

You don\'t want to invest in or move into a neighborhood that has a high crime rate. It will deter potential investors and homeowners. An unsafe location will have buyers showing no interest, which can render an area unattractive for any future development.

Development

When purchasing a home, a homeowner needs to do his due diligence to know what kind of developments are slated for the neighborhood\'s future. If you are keen on having a home overlooking a particular landscape, you need to find a location that has not been earmarked for the development of high-rise apartments. Conversely, if you are looking for a good site for commercial property, the developments around can determine your return on investment. Choose wisely.

Estate Lots

One last thing to consider is the lot. People don\'t always think about the lot, but it\'s an essential factor. Because lots aren\'t easily altered, always choose the house with a larger lot even though the lot needs some renovation. A Lots value is continually appreciating, so this will come in handy when selling the home