THESE 5 FACTORS will influence your Home Resale Value
Charles Reynolds Are you buying, selling, or investing in the property market? One thing you must have emphasized on, or you will emphasize is the property value, or in other words, how much is the property worth? From the levels of supply to demand all through to specifics such as the location of the property, facilities around the property, neighborhoods, and planned infrastructural developments and projects, several factors will influence the worth of your property. Read on to find out what factors will influence the resale value of your property.
FACTORS THAT WILL INFLUENCE THE RESALE VALUE OF YOUR HOME
1. Location
Real estate is mostly centered around the location. Properties in San Francisco are differently priced compared to the properties in places like Sonoma! That is a fact. The location of the property is one of the most obvious factors that will influence the value of the property quite strongly. People will often choose to live close to where they work and where they have free access to facilities that expedite them to enjoy their free time, as such, properties in these areas are often pricier. Additionally, the reputation of an area will influence the cost or the value of the proper-
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ty. There are some suburbans with a good reputation, which raises property values. The reputation of a place is often determined by unemployment rates, which then determines the crime rates.
2. Supply and Demand forces and Interest rate
In a market where there are many sellers than there are buyers, property values may be lower than where there is an excessive demand that outmatches the supply of the homes in the area. Additionally, the interest rates will affect the value of the home significantly. When the FED changes the monetary policy, this can influence the value of
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