"Location, Location, Location"

"Location, location, location," is a common and almost hackneyed phrase in real estate literature. Your agent may even throw it at you when you ask for advice about buying a home. However, what does "location, location, location," actually mean? Why repeat it three times? Mostly, "location" is repeated to emphasize that it is extremely important to the resale value of your home.

The idea is to buy a house that will appeal to the largest number of potential future homebuyers. A careful choice of location can minimize potential negative influences on future resale value, and maximize positive influences. Focusing on resale value requires you to make several different "location" choices.

The first choice you have to make is "which community?" At the very least, you should narrow your choice down to just a few local communities.