Factors Responsible for Changing Property Value

• @kw
• 24 Nov 2020

Any buyer would like to make best deal for the property. The value of a property is not only judged by the offer price but there are many factors associated with it. The Price of a property can only be valued after analyzing and evaluating these associated factors which we are going to probe in this blog. These factors will help both buyer and seller to decide upon an acceptable or reasonable price. Seller would like to get best value for the property and similarly a buyer wants the property worth the value at a justifiable price.

External Appearance of Your Home 

No would possibly like to invest on a shabby looking property. It is true that the first impression is the last impression. The outward appearance of your properly is very important as it speaks a lot about the property. It speaks about its age, maintenance and its aesthetic value. A badly maintained property gets a low value as its up keeping and other associated cost are high at the initial stage. It is more expensive and tedious affair for a buyer who intends to make it his or her home to stay.

Prospect for Increase in Future Value 

This is one of the most important factor that an investor looks for is the prospect of increasing in value of the property whether residential or commercial property. A home is not only a shelter but it is an investment to secure future. The buyer should estimate the market trend to see if the property promises high growth in property value in future. This can be studied by looking into the past trend and also the developments taking place in that location. The changing land value is a strong indicator. 

Available Facilities 

Housing or a retail shop prices depends upon the facilities the property offers. A retail shop in a modern mall is going to be much higher than an individual shop in a local area without any facility or a house in a multistoried housing complex can fetch higher value only if it has good facilities such as park, swimming pool, club house, good beautification/landscape etc. Facilities a property offers impacts it's valued tremendously. A property which is conveniently located with schools, hospitals, market within the near proximity can fetch higher value.

Surrounding Area

Shabby neighborhood reduces value of property. A buyer should always look for a project in a location where the surroundings are clean and having greenery. Well maintained surroundings without having dilapidated neither homes which nor are neither too posh nor too run down most preferred by average buyers. A good neighborhood is safer to live with good social environment makes the investment more attractive

Architectural Elevations 

A badly designed building does not attract buyers. The front elevation, lobby area, well lit common areas and the landscape within the housing complex   gives the first impression to the buyer. Properly designed project whether it is a residential complex or a mall increases value of a project. Likewise, factors like Vaastu, the orientation of the site, etc. are also given a lot of preference amongst Indian buyers, thus making architecture a significant factor to consider while comparing properties.

Internal Orientation of Apartments

Apartments are the place to live. The room size, toilet fittings and other facilities such as electric supply backup and regular water supply are important factors for a buyer to consider its valuation. A home that comes with a well-maintained kitchen, clean toilets, and other clean spaces can be a very viable option for home buyers.