5 Things That Impact Home Value That You Can't Control
Posted on 19th April 2023
When it comes to buying a home, there are many factors to consider.
Some of these, such as the location of the home, can be difficult to control.
In this blog post, we discuss five key things that can influence your home value but are out of your control.
Location is one of the most important factors when it comes to estimating a property’s value. Many people will pay more for a home in a desirable area with good schools and access to amenities.
If your potential home is located in an area that isn’t desirable or has limited access to amenities, it may not increase in value as quickly as one located in a better area.
The crime rate in an area can also impact the value of a property.
People want to feel safe and protected in their homes and communities, so if there is an increase in criminal activity in the area, this could be reflected in lower property values.
Good transport links are often seen as a benefit when it comes to buying or selling a home; however, if you’re living near train lines or other busy roads this could be seen as a disadvantage by potential buyers.
Noise pollution from trains and cars can put some people off from wanting to buy your property and therefore reduce its value.
Another thing that affects the value of your home is accessibility; if you have no access to public transport links or major highways then this could negatively affect how much people are willing to pay for your property.
Finally, the quality of your neighbours can also have an effect on how much people are willing to pay for your property; if they are noisy or anti-social then this could turn potential buyers away and reduce the overall value of the house.
All these factors that affect property values cannot be changed by homeowners but should still be taken into consideration when searching for homes or making moves towards selling yours.
Being aware of these outside factors can help you make more informed decisions about what homes will best fit your needs both now and down the road!
If you have any more questions, or would like to talk with a member of our team, please don't hesitate to contact us, we are here to help!
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Tagged as: Thinking about selling?
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