House buyers shouldn't overlook public utilities.
Utilities and public services in a location are crucial for homebuyers, in addition to price, functionality, style, and developer reputation. Let's examine the significance of utilities and public services and their impact on daily life.
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What essential public utilities should be?
The term "utilities" implies widespread availability. However, for some individuals and areas, certain utilities may not be essential for daily life. Fundamentally, essential utilities that every home should have, and that homebuyers should prioritize, include:
1. Electricity
There are virtually no communities or villages without electricity, except perhaps those in remote areas where basic services are unavailable. Electricity has become a vital public utility, as evidenced by the large state-owned enterprises managing power plants and the sheer volume of daily electricity consumption.
Therefore, if you're looking to invest in a property for long-term residential purposes and want to gauge the actual population density in a given area, you can look at the electricity consumption per district.
2. Water Supply
A basic service that everyone needs. Water supply systems cover... 1. Domestic Water Supply Systems: These include systems for domestic use, such as bathing, washing, and other activities, as well as drinking water systems. In Thailand, these are still relatively rare, primarily found at public water taps serving specific locations.
However, many leading countries offer clean drinking water systems covering all urban communities and public areas.
3. Telephone and Internet Systems:
Telephone lines on utility poles provide strong evidence of widespread telephone coverage in cities, especially in the past when landline phones were the primary use.
Even though landline phones are largely obsolete today, telephone lines remain essential for various organizations and office buildings that still require office telephones.
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What Public Facilities Should Be Included?
Public facilities are another fundamental service that enhances the quality of life in cities. They can be operated by the government or private entities, but are always under government control. Public facilities are a crucial factor to consider when choosing a residential location.
Locations with dense and comprehensive public facilities reflect the government's emphasis on these facilities and indicate the area's future growth potential. Public utilities come in many types, including:
• Service-related public utilities: various government agencies such as courts, city halls, municipalities, and post offices.
• Cultural public utilities: museums, observation towers, libraries, theaters, art and cultural centers, and planetariums.
• Educational public utilities: childcare centers, schools, colleges, and universities.
• Sanitation public utilities: health centers, health facilities, and hospitals.
• Recreational public utilities: parks, playgrounds, and sports fields.
• Safety public utilities: fire stations and police stations.
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How do public utilities and infrastructure contribute to homebuying?
From a real estate developer's perspective, the most important thing is undoubtedly 'Location, Location, Location.' Similarly, consumers like us should always prioritize location first, because once real estate is purchased, it cannot be moved, and the future growth potential of that location is unknown.
Public utilities and infrastructure also play a role in assessing the current potential of a location and its future growth prospects. Having good public utilities and infrastructure enhances a location's potential in the following ways:
1. Convenience in daily life. Having something is always better than not having it, and sometimes having more is better than having less. This is especially true for public utilities, services, and infrastructure, particularly in the area of transportation and mass transit. The more developed a location is, the more convenient the quality of life becomes.
As we can see, land near mass transit stations is expensive, and land along main roads with easy access tends to be more valuable than the surrounding areas.
2. Enhanced Quality of Life
Public utilities and infrastructure are another global indicator of the quality of life in cities. The better access to public utilities and infrastructure, the higher the quality of life, as well as the better the land value.
For example, land around parks in Bangkok, such as Lumpini Park, Benjakitti Park, or Chatuchak Park, tends to be much more expensive than land in other areas. This is because land in the city is limited; having public utilities like parks nearby is rare, making proximity to these utilities a highly desirable asset.
3. Growth Potential of the Location
Locations with well-managed public utilities and infrastructure reflect prioritized by both the government and private sectors, clearly indicating potential growth. For example, locations where underground power lines are being implemented to improve the landscape tend to be high-growth areas and command high prices.
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Therefore, before buying a home, carefully consider the management of public utilities and infrastructure in the area to assess its potential growth.
Even though it may seem like a distant issue at first glance, it's crucial to understand its implications. In reality, utilities and public services are fundamental services that are integrated into daily life and are closer to us than we realize. They directly impact quality of life, convenience of living, and the future growth trend of housing prices.
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Thank you for the valuable information from REIC.
