“Location. Location. Location.”

No doubt, you've heard this age-old real estate maxim before. You can redecorate, rebuild, relandscape, perhaps even modify certain aspects of a home's location (e.g., erecting a sound barrier, planting a wind screen), but practically speaking, you can't change where a home is located.

At minimum, avoid locations that involve high noise levels, unsavory elements, traffic, pollution, crime, poorly kept homes and decreasing property values. Instead, look in areas where homes are appreciating and close (but not next to) employment, good schools, transportation, shopping, entertainment, restaurants and parks. Remember, a home priced low due to its location will sell low due to location later on.