Property Value — April 14, 2015 at 7:54 am

Factors That Determine the Value of Property


Property sales market has become more competitive throughout the world that ever before as a result of the growing population and the improved life standard of people in most countries. This makes the task of successfully selling a property a lot harder than it used to be and the home seller of today must have a comprehensive idea about all the value adding factors of a house. This article discusses about a few such factors to help you make a successful sale.


The geographical location of a property is without doubt the most important factor that most home buyers will consider when selecting your estate over others. Understand that the quality of the elements surrounding your land such as schools, hospitals, banks, grocery shops etc. enhances the value of the premises as well. Community surrounding the location also is an important factor. Family buyers prefer a friendly, pleasant neighborhood who would develop strong ties. Another important factor is the availability of convenient access to main roads and efficient transportation. If these features are available for your market offering, make sure you inform all potential buyers about them as this will give a great competitive advantage to you.

Age and Condition

In most cases a newer property will be much pricier than an older one because a buyer will be willing to pay more as they are more confident about the state of the house as its construction was completed recently. However, if yours is an old property which has been well maintained and is in good condition, buyers looking for a retro style home will be willing to pay you a considerably high amount. The fact is, no matter how old a property is, if it is well maintained, you have a good chance of making a very profitable sale while passing great value to the buyer as well.

Invest In Remodeling

If you have the funds for it, make sure you make some smart remodeling in the premises to raise it’s value. If there’s a spare room in the house convert it into a game room or a cinema room. This may seem like too big an expense now, but if the right kind of remodeling is done a substantial value of returns can be experienced. Kitchen remodeling is another factor which really attracts buyers. Also, if you feel like the house could use another bathroom, build one. Be sure to keep records of all these remodeling activities because the buyer might ask for proof.

Size End Design

Larger the property, more money the buyers will be willing to pay for it! Sizes of both the garden area and the house can affect the purchase intention and inform the buyer regarding the exact dimensions of the property. While it is important to make the property as spacious as possible don’t leave any useless structures which might create clutter. Break down a few walls if you have to and make use of whatever space left to make smart additions.

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