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Factors That Affect Your Home Value

by Erik

When a real estate agent comes to value your house, you might not know exactly how he or she comes up with their estimation. Thankfully, I’ve done some research so I can write this blog post for you. Here are some of the main factors that affect your home value.

 

home value

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Location

Where exactly is your home located? If it is centrally situated in a large city or town, then that can increase its value. That’s because it’ll be close for commuters to get to work, and there will be plenty of amenities in the area. You will also be able to ask slightly above the average if you are close to a good school. However, a central location in a rough area can bring the price down. Rural locations can bring a house’s value down, but only a slightly. In fact, if your property is in a place of natural beauty, that can hike up the asking value. This trend can be seen from Bridgfords properties.

Unfortunately, not all of the factors can be changed. For example, you can’t really change the location of your house! If you know this is bringing the value down; look at some of the options below that you may be able to fix.

 

Internet

We all depend on the internet these days. Especially freelancers who work from home. If you live in a town or a city, you won’t have to worry about the strength of your internet connection. However, if you live in a village, this might be something you need to improve. Some rural locations have weak internet connections. This can have a negative effect on your home value. Speak to your internet provider as it might be worth upgrading to try and attract buyers.

 

Green Spaces

Even if your property is in an urban area, potential buyers will still want some nearby green spaces. If you have a large garden, it might make up for not being close to a park or outdoor green space. However, if you don’t have a garden, and you aren’t close to any parks, then you might have to ask for lower than your area’s average asking price.

 

Old Interiors

Does your decor look slightly dated? If so, it could be worth giving it a makeover. Buyers won’t want to buy a home that needs renovating as soon as they move in. Instead, they would much rather buy a house that needs nothing done to it. And that includes the interiors. So if you have been meaning to re-wallpaper a bedroom or paint a bathroom, do it now. You might be surprised by how much this increases your home value.

 

Update Heating and Air Conditioning

When people are looking around a house, they will want to see modern heating and air conditioning systems. They could be put off if you have old systems, as these can be expensive to run. So it is always worth updating your heating before you put the house on the market. It will cost a bit, but you can make this back by increasing the asking price.

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1 comment

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AnnaZed July 31, 2016 - 8:39 pm
Well, I have most of that bot (oh boy!) we should really buy a new air conditioner. Ours is so old.
Reply

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