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August 25, 2010
Location Location Location: The Annoyance Of A Property Finder
The other night I spent my rare free moment flicking through channels on my television and started to watch Location, Location, Location. Now, home shows are quite prolific so I’m used to having friends compare my job as a buyer’s agent to one or more of these, but this was the first time in a while I sat down and watched. After ten minutes, though, I couldn’t stand it. The show
has wonderful camera work, which makes each house look nice, but there was little else about the properties than pretty pictures. I sat there wondering why this location was more expensive than that and by how much. I had no idea what the average price in the area was. To that, I only knew what the total price was, not the price per square foot as every property person prefers. I didn’t even see a layout of the house to know if it was well arranged.
This must be why so many doctors hate most medical shows, no substance or accuracy. As though the only thing about property is what it looks like and where it is located. Any Joe can find a pretty house in a good location, you have to be able to put it in context. Is the property good value for money? Will the house prices increase or decrease in that area? Can you rent it out at a good yield if you move out? How much will refurbishment improve the value of the house? If I’m going to watch someone else do my job they could at least do it well.