Homeowners who are planning to sell their home usually try to have their homes appraised so that they can work on their selling strategy. Everything that is inside the home affects its value, and its exteriors speak a lot as well in terms of home valuation.
Good Home advisor explained in one of its webs articles the factors that affect the value of a property. One of the factors they discussed is location.
“Everyone has heard the axiom ‘location, location, location,’ and the reason it is such a prevalent cliché is because there is truth behind it. Proximity to employment centers, medical facilities, shops, and schools is a determining factor for many families and young couples when buying a home. Proximity to a wide array of local amenities and good transport links increases the value of your potential property.”
Read the rest of the factors they mentioned in their web article here.
Other factors that affect home value
Forbes.com also discussed the other factors that could possibly affect a property’s valuation. The factors they discussed go beyond the usual property value factors, as these may not be too obvious to home sellers.
“Ever heard of house numerology? This is the practice of assigning a single-digit number to your home based on its address. Let’s say your address is 1219 Main St. Add 1 + 2 + 1 + 9 to get 13. Then add 1 + 3. Your house would be 4: good for investments and security but bad for adventure and excitement. While this type of house numerology may be passed off as a superstition, buyers who subscribe to this theory may overlook potential homes because of their numerology calculations.”
Check out the other factors mentioned in the original article here.
What Lowers Property Value
Business Insider meanwhile shared the factors that lower a residential property’s value. Unusual home colors is one of those they mentioned.
“The color of your home is one of the first things a buyer will notice. If it stands out in your neighborhood, it could torpedo your home’s selling price. The same goes for the interior. A bright-pink living room could discourage potential buyers, as they may not be able to picture themselves in that home.”
The other factors can be found here.
Being aware of the factors that affect a home’s value can help a lot in raising the chances of selling one’s property at a great value.