5 Factors Which Determine Your Property Value

There are a number of factors involved which would determine your property rates as well as it’s resale value. Initially people were unknown of these factors which leads them to make a wrong decision related to the property. One must look upon these factors so that when they want to resell their property, they get a good amount. Therefore, below listed are some major factors which everyone must keep in mind while purchasing a property:

  1. Construction:

A most important part of a house is it’s kind of construction. A house or a building has to be well constructed and the material used for its construction should be of the best quality. If well constructed, only then the structure will gain its strength and will last for long years. Hence, if the quality and material of the construction are good, your property value will increase for sure! Therefore, if you are planning for the construction of a house, then you should look for the highest quality home builders which are reliable.

  1. Location:

In which part of the town is your house situated also decides the rate of your property. If your house is located in the center of the town, the rates will be the maximum. On the other hand, if it is somewhere in the outskirts of the main city, then the value may be a bit low then what it should be. Thus, select the property which is situated close to the city and which suits your budget as well.

  1. Size:

It’s obvious that the larger the house is, the more it’s value will be. But along with the size, the rooms and other spaces in the house should be spacious as well. Also, there should be a proper ratio to the bedroom, passage and washrooms. If the net carpet area of a house is less, that is often compensated by constructing a multi-story building. The costliest properties are the ones that have a huge carpet area and are located in the town.

  1. Appeal:

The way a house looks from the exterior is considered as a status symbol of a person. This is the reason why most people are interested in the appeal and architecture of the house. Along with having a good architecture, people are also demanding for a house to be sustainable and energy-saving. There should be proper light and wind in each corner of the house. Thus, the entire architecture part is appreciated when it comes to valuing a house.

  1. Availability:

For the people who don’t prefer to travel long distances find a house which has every required place around it. People often choose a property that is nearby their workplace. These people will avoid purchasing a house on the outskirts of the city where there is no market, hospital, school, fuel stations and everything required in day to day life is not available easily. Thus, the type of neighborhood near the property also determines it’s value.