---you heard this adage many times but, what does it mean?

LOCATION is one of the most important aspects of consideration when establishing the value of a property. For example, two identical homes can be priced - and valued - at completely different prices! Location being the differing factor.

The following could affect not only how much you pay for your home but the property's subsequent resale value.

Distance to work...How long will the rush hour commute take? House prices are generally cheaper the greater the distance from the hub of activity.

Transportation...Public transit and mature road networks are more readily available in built-up and established areas. Projected start dates for transit routes or road construction are only educated guesses.

Schools...Knowing which schools service an area is often a high priority.

Support Services...Everyone needs a doctor, dentist and a pharmacy. Day-care centres and religious facilities also rank high for many people.

Shopping...Large commuter malls serve an entire community. Intermediate sized plazas are accessed by commuters and pedestrians.

Recreational facilities...Parks, playgrounds, community centres, skating rinks, swimming pools, baseball diamonds and soccer fields help establish ambiance and a community based neighbourhood.

Potential Deterrents...Negative factors include gas stations, railway tracks, airports, empty lots, commercial developments, cemeteries, industrial parks and major highways. Even positive attributes in in close proximity can become drawbacks. For example, being near a school is important, but the noise factor and possible after hour loitering can be a bad thing.