Understanding geometric boundaries in real estate can add to your knowledge base for purchasing or selling properties. The legal limits of what a potential purchase would entail are valuable. Examples of geometric borders can include special tax districts, school zones that a child would qualify for, a utility right of way, or another type of right of way that may influence the marketability of a property. Let’s get rid of the word geometric right now. The simple word for this concept is shapes or zones. Being within a specific boundary or outside of one can affect the perceived value and the actual costs associated with owning a property.
Boundaries are subject to research before the moment of making an offer. Location influences value in profound ways. Being in or out of a geographic area (geometric area) will also affect your holding costs if you are in a place subject to special tax assessments.
what is a geometric boundary?
A geometric boundary is a political or territorial boundary with a consistent and clear geometric shape, such as a square, line, or circle on a map. The actual meaning of a circle, square, or line on a map is expansive.
A geometric boundary can be a line on a map that countries or nation-states establish to avoid conflict, like the United States and Great Britain did in 1818. They agreed to make the 49th parallel (line) the border between the two countries.
Geometric boundaries can also exist in the collective perception of people in a city. This perception can drive value and desirability. Maybe you have heard of “The Meatpacking District” or “SOHO” in Manhattan or London. In the New York City example, “SOHO” refers to the geometric boundary “South of Houston St.”.
You can start to understand just a few of the implications of a geometric boundary. These shapes and lines exist by agreement or mandate for commerce or the devices of governments, organizations, or the general population’s perception. People create lines and shapes on maps for understanding, legal and political reasons, and just about any other reason you can think of regarding communicating a concept between one party and another.
When purchasing real property, some areas will be obscure to you. It would help if you had the proper guide or representation to be aware of being in, near, or out of a particular zone. Further, suppose your prospective property doesn’t have access to a public road. In that case, you may have to pay for a survey to propose a right of way and construction of a road or utility infrastructure to access power, water, or sewerage.
Real estate locations have external qualities such as climate, entertainment, and school performance. Boundaries also affect properties inclusively or internally. Internal qualities are access rights of way or utility servitudes.
In conclusion, zones, boundaries, and geometric shapes apply to real estate in several ways. This dimension can affect a property’s value, perceived desirability, and holding costs.
Where to Invest in Real Estate?
The main thing to understand about real estate is that it is very local. The US has 400 MSA’s (metropolitan statistical areas). These areas are linear, cyclical, or hybrid. Where to invest depends on what type of investment you pursue. Commercial real estate, residential, land, income, and industrial are all real estate investments. There are always deals near your area. Your vicinity is a great place to start because you can meet with the people associated with a potential purchase and drive to the location and see it with your own eyes.
Are real estate lockboxes safe?
As a rule, lockboxes are a safe way to store a key to a lock or property. There are electronic lockboxes typically used by real estate professionals. The electronic boxes have digital identification tools that monitor the others that enter with authorization. Combination boxes only have the combination as their level of security. Giving the lock’s combination out to those of your choosing should be done wisely, and you should contact them after use to ensure that the person puts the key back and that the box is closed.
When will the market crash?
This conversation is on the news cycle daily. The consensus is that there will be market corrections, price reductions, and volatile conditions through 2023. There will also still be demand for existing homes.