Factors That Affect Property Value

August 18, 2022
Factors that affect property value

When we sell our property, we take into consideration a lot of things before we come up with its market value. It can include the furniture and appliances, the furnishings, the other amenities that we came up with and included in the home.

What effects property value goes beyond what’s inside the home. We have listed some of the key points that you can also consider when you decide on a market value for your property.

Location

Accessibility to many essential services, to the school or workplace, or to venues for recreation have a significant impact on your property value. Not having to commute or drive far from where you live is a plus factor and future home owners won’t mind paying more for it.

School zones

For those who have families with children, it is very important for the purpose of safety and security that their schools are a few minutes away from the place where they live. This will also give children more time to spend on other things like extra-curricular activities or playing at home instead of on long commutes or drives.

Access to public transportation

Sometimes, new homeowners have to sacrifice some other essentials like a car. Easy access to public transportation 24/7 is a huge requirement so having this as a factor to your property is a big plus.

Potential for investment

When we buy our first home, we see ourselves in it for a couple of years, at most, 3-4 years before we start entertaining the idea of moving into a new place. For this reason, often, it is taken into consideration a property’s potential for investment. Selling the home in a few year’s time at a higher price is definitely a plus.

Energy efficiency

Since moving into a new home comes with unforeseen costs and expenses, one thing that people consider also is if the house is energy efficient. Not only is it going to help them adjust to their new life, it will also help the environment.

Aesthetics

To some, it is still a huge factor to consider what a property looks like and the neighborhood it is in. The streets, the parks, the lawns of the potential neighbors, the main roads. All its aesthetics contribute to the decisions of future residents and homeowners.

Consider these factors when you are coming up with a price for the property that you are going to sell.

For more tips in selling your future home or buying a new one, follow us on our socials at @collingsrealestate.

Other property value-related blogs:

Scroll to Top