10 Key Factors Affecting Property Value
Buying, selling or investing in real estate involves much more than choosing the right location. The value of a property is a reflection of multiple elements that can make it more attractive... or depreciate it over time.
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If you are considering a real estate transaction, knowing these factors can help you make smarter and more profitable decisions.
Here we share with you the 10 key factors that directly impact a property's value:
Location, location, location
Is the property close to shopping centers, public transportation, hospitals, tourist areas or schools? Accessibility and convenience directly influence the price.
A well-located house can be worth up to 30% more than a house with similar characteristics in a remote area.
2. Security of the area
The crime rate and the perception of security in a neighborhood or subdivision strongly affect the value of a property. Areas with private security or controlled access tend to be more in demand.
3. Historical and projected capital gains
Capital appreciation is the increase in the value of the property over time. If the area is under development (new roads, shopping centers, public investment), prices are likely to increase in the future.
Investing in growing areas is a smart strategy to maximize returns!
4. State of conservation
The aesthetics and maintenance of the property have a direct impact on its value. A house with well-kept finishes, without humidity or structural flaws, is perceived as more valuable.
5. Size and distribution
A well distributed property, with functional spaces, good lighting and ventilation, is more in demand. It is not only about square meters, but also about how they are used.
6. Amenities of the complex
If you're buying in a development or condo, amenities play an important role: pool, gym, green areas, coworking, 24/7 security. These elevate the experience... and the price.
7. Age of the property
New construction tends to have a higher value because of the modernity of the finishes and systems. However, a well-preserved older property can also be valued if it is in a premium area.
8. Local real estate market
The supply and demand of the moment have an influence. If there are many properties for sale in the area, prices tend to adjust. If there is a shortage, they can skyrocket.
Always check comparable prices ("comps") in your area before buying or selling.
9. Legal Aspects
Having title deeds in order, without mortgages or pending lawsuits, increases buyer confidence and perceived value. Proper paperwork is a magnet for investors.
10. Consumer trends
Lifestyle also counts: today's buyers are looking for home office space, gardens, terraces, energy efficiency and connectivity. Adapting to these new needs can make your property worth more.
The value of a property is not only what the appraisal or the price on a website indicates. It is the result of multiple factors that are intertwined between the tangible and the emotional. If you are about to buy, sell or invest, analyze these elements with a magnifying glass.
At iBrokersWe help you make informed decisions with professional advice, analysis tools and market knowledge to make your next investment a success!
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