Definition of "Secondary location"

Secondary is something that is less important than or compared to something else. Secondary can also be a result of something or someone that is primary by definition. A secondary location can refer to an alternative location. It can also be a place that is situated somewhere else in relation to the primary location.

For example, John Mulaney used a secondary location in his comedy show to describe a location from which you have no chance of returning back alive. Boats have hull identification numbers (HIN), and while the primary location for the HIN is on the rear of the transom, there should be a secondary HIN location in the interior of the vessel.

Secondary location in real estate

In terms of real estate, the term secondary location can refer to an area that is less advantageous. A primary area could be an area that is very desirable to live in and the reasons for that are numerous. Getaway cities in terms of traffic count, safety, accessibility, and many surrounding neighborhoods are some aspects that define a primary location in real estate.

A secondary location in real estate is the complete opposite or not as convenient as the primary one. We can define the area around the secondary location as lower-class, not so active commercially speaking. The term can be associated with a location that is nicer than average but not incredible.

Secondary locations can also be real properties located in unsafe areas or areas with high crime rates. Real estate that is hard to find or spot is also considered to be a secondary location. Properties that are surrounded by poor infrastructure or property with inadequate parking space. Secondary locations are also priced a lot lower because of this and that is another way to differentiate between primary and secondary locations.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Release of a portion of a property from a mortgage. ...

Arrangement between neighbors permitting one of them to put a beam for support on another neighbors wall. ...

(1) Government seizes private property, but does not provide fair and reasonable compensation for it. (2) Property is seized and the owners rights abolished because of a legal violation. ...

Increase in the value of real or personal property. The price may increase because of a number of factors, such as shortage in supply, improved economy , favorable political environment, ...

The meaning of a disclosure statement is a legal document signed by both parties, the lender and the borrower or buyer. This statement outlines the terms and conditions, the potential ...

Money payments to be delayed for a future date or extended over a period of time. ...

The Federal Reserve Bank's regulation applying to the amount of credit that may be advanced by brokers and dealers to customers to buy securities. ...

Real annual return on a real estate investment. It equates the initial investment with the present value of future net cash inflows from the investment. The IRR can be determined by using a ...

Written enumeration of the desired selling prices associated with homes or office buildings for sale. The prospective buyer can then determine if the properties for sale are within his ...

Popular Real Estate Questions