Title: Factors that affect property value
1Factors that affect property value
2Index
- Factors that affect property value
- Location of the property
- Home size and usable area
- Age and status
- Outlook at Economics
- Outside View
- Interest rate
- Growth of population
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4Factors that affect property value
- Many first time home buyers find that the
physical structure of the house would increase
the value of the land. - But the fact is that the physical structure of
the property manages to decrease over time, while
the land it builds normally appreciates its
value. - Land value is valued because it is in limited
supply. After all, no one produces any more
earth. - As the population increases as well as the
demand for land also increases. - As a consequence, the price of the property is
also rising over time.
5- Your property value is dependent on what buyers
are looking for on the market and will pay for
your house. - Know, every one of the buyers is special.
- One family may measure location factors such as
school, bus stop, hospital, markets, workplace,
etc. - above the size and condition of the home, but
some other families prefer location, supply and
demand, interest rates, economic outlook, size
and facilities, etc.
6Location of the property
- The position of a property is the most obvious
aspect that determines how much a property earns. - Is it close to the center of town? Is it near
the train station or the airport? - Is it convenient to schools , hospitals, markets
malls, grocery stores, restaurants? People
usually want to live close to their workplace and
enjoy their daily basic needs and free time, so
the properties in these areas will be more costly.
7Home size and usable area
- Its value will be influenced by the features and
the overall size of the house. - When considering your home's market value, size
and space is an important factor to consider, as
a larger home can change its valuation. - A 4-bedroom house is likely to attract more
attention than a 2-bedroom house in the same
area, white features such as extra bathrooms,
garages, swimming pools and outdoor recreation
areas can all have an impact on property valuation
8Age and status
- Commonly, newer and more advanced homes pay
higher prices. - The fact that essential parts of the house, such
as plumbing , electrical, roofing and appliances,
are newer and thus therefore less likely to stop
working. - In return, the buyer 's money will be saved.
- A new home can cost you more because it typically
needs little maintenance. - On the other hand , the state of the house also
matters. - Well-maintained older homes can also be sold at a
higher price.
9Supply and Demand for
- The current condition of the real estate market
will also affect the value of the property. - Home prices are determined by supply and demand,
like any other business asset, and can differ on
the basis of indirect changes in the economy of
your region. - For example, if there is a lack of available
houses in your area and a lot of people looking
to move to your area, in these circumstances,
property prices will increase.
10Outlook at Economics
- The overall performance of a country's economy
can also have an impact on the property market. - If a country's economy is experiencing strong
growth, jobs and working conditions, more people
can afford to purchase land, which leads to an
rise in house prices.
11Conditions of local market
- Even if your home is in excellent condition, at
the best location, with premium upgrades, the
number of other properties for sale in your area
and the number of buyers on that market can
influence your home value. - If there are a lot of buyers competing for fewer
homes, it's a seller's market for sure.
12Outside View
- Another thing potential buyers consider when
they're looking for a property to buy is the view
they'll see when they're looking out the window. - A home with a sea view can demand a much heavier
price than a home with an obstructed view.
13Potential for renovation
- Growth potential is important for both homebuyers
and investors in the real estate market the
potential to add an extra bedroom or an extra
story, the potential to increase floor space, or
the potential to add a pool or outdoor patio. - If there is scope for the purchaser to improve
and personalize the property, the resale value of
the property will increase.