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

People often use the term in their everyday discourse, yet many wonder what the meaning of common law genuinely implies. Common law refers to a system of jurisprudence based on court ...

A line on a map or drawing showing equal ground elevation points. See also contour map. ...

Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...

Federal agency that aids veterans of the armed forces. For example, it guarantees a home loan for up to a predetermined dollar amount or percentage of the loan balance, whichever is less. ...

Goods that are freely substitutable. It is goods of a given class or type, any unit of which is as acceptable as another, and capable of satisfying an obligation expressed in terms of the ...

Mutually binding property sales contract where the title remains with the seller until the purchase price is paid by the buyer. It is a contract to convey title in the future upon ...

Time period for which one expects to keep property such as a real estate investment. ...

Method of construction where part of the structure is supported by a cantilever beam or truss. ...

Accelerated depreciation method in which the amounts recognized in the early years of the property's useful life are greater than those recognized in the later years. The SYD is found by ...

Popular Real Estate Questions