Server location of a website of course matters in terms of site load speed and for search engine ranking purpose. The closer the server to the web site visitors the faster it will load for them. Say your website is hosted with a web host, whose server is located in Toronto (CA), so all the visitors from and around that particular area will get the best speed.
There are number of excellent hosting companies that provide choice of server location facility to their clients. If you are using WordPress for your website then speed is more important because normally WordPress sites are heavier and slower to load. So you need to look for the best WordPress host for your hosting needs. There maybe number of web hosts offering such facility to their clients but the best one is InMotion hosting that provides you choice of 2 locations.
This will of course benefit you in one pretext or the other. Remember not every hosting that claims to be WordPress hosting provider is good for you and you have to see what all things it provides for your website. To be wiser on the subject InMotion WordPress hosting review can provide you with the required insight. Since they use SSDs to store the data and also offer the choice of server location so you can drive full benefit from it.
Since your WordPress site content is stored on a database that is hosted somewhere else and not within your reach so you need to take regular backups. Some of the good hosting companies do provide you with the facility of data recovery free of cost but there are also some of them that charge handsome fees to provide you with your data.
So before signing up for a web hosting plan you must study the server locations offered by the hosts. Then keeping in view your present traffic stats select the server that is closest to most of your web visitors. By doing this you will be adding to the better user experience and it will also contribute towards the better search engine ranking of your website.