House Valuation: Factors Affecting How Much your House is Worth.

ave you ever thought about how much your house would go for? It’s usually not an exact science as there are very many factors that can affect the selling price. Some of these factors range from the condition of the property, the desirability of the location where the property is located among others.

This article is meant to give you a point of information so that you are able to agree reasonably on what factors that can influence the value of your property.At the end , you will be able to tell what can make the value of your property appreciate or depreciate.

1.Location – Proximity to medical facilities , school, employment centres and shops usually influence very many families when they want to buy a home.THerefore, the proximity to your property will local amenities and transport network will affect the value of your property.

2.Geographical or geological instabil
ity
– There are certain areas that are always prone to natural calamities such as floods , tsunam
is , earthquakes , volcanic activities and they make some of the poorest choices when buying property because folks look at the safety of their families and insurance cost.

3.Condition and age of the property – The age of a property does not always automatically reduce the value of a property, usually it is the condition that matters the most.You can find a very old building that is well maintained that is equal or higher in terms of value than a new building with equivalent specifications.

4.Size and improvements – The size of a property affects its value.This can be increased by doing renovations.When done to the required standard, it usually increases the value but when done poorly the property reduces in value.

5.Surrounding neighbourhood – The value of a property is determined by the developments that are either planned or in motion in the adjacent areas of the property.This is why very many home buyers usually pay close detail to the surrounding areas