In many real estate advertisements you see the claim “close to good schools”, but does the proximity to education centers really affect a property's value?

The adage “location, location, location” is well known and refers to how a property's value benefits or suffers from the surrounding neighborhood.

Families looking to buy often prioritize the proximity to schools and the ease of access to transport systems. 

Naturally, sellers want to put a premium on such benefits.

Research from the National Bureau of Economic Research has recently linked property value to schools in a study: Using Market Valuation to Assess Public School Spending.

It claims that for every dollar spent on a local public school, the value of a home goes up $20. 

If you assume that funding is the determining factor of a good school, then property prices benefit from having well-financed education facilities nearby.

A 2016 study by property site realtor.com claimed property values were on average higher in top-performing school districts than the median real estate price. It used Duke University as an example, noting homes achieved an average of 52c per square foot more than homes outside the area. 

While there is no dispute about the impact of location on value, quantifying that benefit is not a perfect science. Each buyer will see different benefits to the location of a home.

These are some of the essential local amenities that today's buyers want nearby. When you decide to sell, ensure you maximize every location benefit you offer.

Essentials

Folks want to be near some of the most fundamental public services such as schools, universities, hospitals, transport systems and shopping centers.

Lifestyle

Sellers can place a premium on their property for amenities that make life fun, such as parks, cafes, restaurants, cinemas and theaters. 

Safety

Low crime rates, well-maintained neighborhoods and a strong community are seen as highly desirable by buyers, especially families and senior buyers. 

Nature

If you have great views, either of surf crashing onto the beach or rolling hills, you'll be able to demand a premium.

Jobs

Being close to centers of employment, or a CBD, is a significant tick-in-the-box for buyers who dread wasting hours every day on a long commute. Areas with strong employment growth play well, too.

History

Many folks love living in areas of cultural significance because these areas are so unique. Where you can, emphasize this benefit of “unique living”.

Future

Savvy sellers will also investigate the future plans for their neighborhood and emphasize these benefits. Additional infrastructure, such as a new hospital or train station, will bolster local prices.

Home-hunting can be a deeply frustrating experience if you approach the challenge without a plan.

As America confronts a shortage of homes for sale with sellers waiting out the recent spate of mortgage cost rises, you've got to be on your game as a buyer.

Finding the right property, negotiating successfully or being able to pick yourself back up when you miss out has never been more important.

These tried-and-tested methods have enabled buyers to find their dream homes in the toughest markets.

Be efficient

The first rule is to conserve your energy. Be selective about the properties you wish to view. You'll exhaust yourself if you try to walk through every house, apartment, duplex or condo that catches your eye.

Drive-by viewing

Before committing yourself to spending time inspecting an apartment or house, do a quick drive-by. Check out the exterior and get a first impression of the general maintenance of the property. 

Quick spin

Then, take a spin around the neighborhood to see if this is the type of area for you. Avoid wasting time making an inspection to then decide you don't like the area. Do it the other way around.

Limit inspections

Admittedly, this is a tough goal to set, especially as we're seeing fewer properties on the market than usual, a situation that's bound to change in the next few months. However, try to limit yourself to eight to 10 properties. So, choose carefully. 

Prioritize preferences

Selecting the homes to walk through will be easier if you have a clear idea of what you want. The attitude, “I'll know it when I see it”, is fine but it will take up your time. Only inspect a property if you like the price, location, condition and floorplan.

With all the excitement of purchasing your first property, you can be excused for feeling a little intimidated by the prospect of furnishing it to complete your dream of home ownership.

Naturally, you want everything to be perfect. 

Whether an apartment or house, this is your sanctuary. It's where you'll find respite from the pressures of daily life and invite friends and families over for social occasions. 

So, choosing the right furniture is not a small deal.

It's easy to be overwhelmed by the array of styles, such as Scandinavian, rustic, coastal or even minimalist. Or you just want to choose furniture you love, and ignore the principles of a particular style. These tips will help.

Find inspiration 

Go online and devour the wide range of home-styling magazines to find your perfect approach. Creating a mood board to capture furniture and layouts you love works a treat.

Color question 

Choosing furniture isn't just about size and comfort. Color is a significant factor. Decide on your color scheme before hitting the furniture shops. Consider the color of the walls and your flooring before deciding how to proceed.

Measure up

You should measure each of your rooms. One of the biggest mistakes to make is purchasing furniture that is too large for the intended room or living area. Mapping out your home will ensure you don't make this error.

Stay focused 

Pick your preferred styles and then research the approaches you can take within each style. If you adopt a scatter-gun approach, you'll likely end up with a mess of options.

Energy flow 

Your furniture will create a kind of “energy”. It's a great idea to use your mapping approach to decide the size of the furnishings and where they should be positioned. You want to ensure each room has a simple but efficient traffic flow. 

Eastern promise

Feng shui is the Chinese art of creating positive energy in your home. Its principles make a lot of sense. You may find it worthwhile checking out Feng shui and how it might help you.

The bottom line

It's common to gravitate towards furniture that we “absolutely must have” but is probably beyond our spending limit. It's fun to dream, but you need to keep your feet on the ground. Make a budget for each room to help pay attention to the dollars.