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| Image Source: realestate.msn.com |
Knowing the direct factors affecting home value can help sellers determine the right price for their property. It also helps owners decide on the needed improvements to increase their home’s market value.
Below is a comprehensive list of the direct factors that may make or break the ideal price of your home:
Community. People move from one place to another for one important reason—community. This includes efficient city services, ample resources, and a bustling business district. The community where the house is located directly affects its desirability in the market. Among the questions home buyers need to ask when evaluating a property include “Is the community prone to high crime rates? Who lives in the community? Is it near commercial establishments?”
Schools. Studies suggest that houses located nearest the best schools offer one of the highest housing prices in the market. Thus, a home’s overall market value could be affected by a property’s proximity to good schools.
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| Image Source: news.com.au |
Amenities. House features have direct impact on its price. According to Realtor.com, the most worthwhile investments for houses are its amenities, which include traditional upgrades in kitchen and bathroom, as well as creating high-end amenities like specialty rooms such as media rooms and children’s playroom. Other amenities include outdoor areas like parks.
Transportation. This is of prime importance for people who need easy access to public transportation, especially for families who commute daily to and from work.
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Jay Eisenstadt and Esplanade Capital provide investors with valuable information about real estate market trends. For similar discussions about the housing sector, visit this blog.
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