Here's another more obvious reason to check location when buying a house:  PROPERTY TAXES!

Take a look at what property takes go to in your potential neighborhood and see how that compares to surrounding areas.  How new are the public schools?  What about the local roads, are they paved nicely?  As mentioned yesterday, how about community services and activites?

Be a bit careful about the areas that your agent shows you though.  Sometimes an agent will have a bias against an area with high taxes.  Don't let an agent persuade you to not look an area that YOU as a buyer are interested in.