Real estate How much is my home worth?

[greenieS]

That's why your neighbor's house might be worth more.

The value of a home can vary over time. A smart seller will monitor the value of his property over the years to find out the price in general. However, if you want to increase the value of your home, or if you are just wondering why it remains constant, you need to understand the factors that influence it. Here are some options that could negatively affect this.

Location

The proximity of a busy street or, on the contrary, its location in a place that is too isolated. Almost every time this factor is of major importance.

Seniority

Properties that have a historical air due to their architecture or new constructions are preferred by most customers, but an old house, 30 or 40 years old, that looks strange and old-fashioned, that is neither new nor has a special architecture, no will positively influence the buyer's decision.

Old-fashioned renovations

Is your kitchen still furnished with dark wood furniture and carpeted? Does the bathroom have embossed walls and are its walls made of stained glass? Renovations that were popular in the past could significantly affect a potential customer's first impression. Of course, a fresh painting and a few flower pots will refresh the atmosphere and give the rooms a modern and pleasant air. Also, another factor could be the renovations that are just to your taste. The bright colors of the pieces of furniture may not be to everyone's liking. If potential customers can't see beyond your personal stylistic sense, the house will remain for sale on the real estate market for a few months, or even longer.

Negative history

Has your home ever been flooded or has one of your neighbors' homes been set on fire? Isn't the neighborhood they're in really nice? That could scare any buyer.

Size

One of the most sought after features when a potential customer accesses a real estate site is the area of the home. They want a space where they can feel comfortable. Therefore, a home that is too small or too large will not be suitable for anyone. A large space requires more care costs, so it will not be among the customers' preferences.

Lack of bathrooms

There is no one who does not want to have his own bathroom. Therefore, if your home has only one bathroom and 4 bedrooms, you should seriously consider a solution.

Look

A modern house in the middle of a neighborhood with properties that have a classic and totally different architecture, will certainly be in the attention of the potential client, but not in a positive way.

 

[eldavis]

Most times it can be Abit difficult to sell or rent out houses with old designs, especially now that there are so many modern houses out there. What most landlords usually do is renovate the house. Like there is a building close to where I live, the house is old in terms of years and designs as well. What the landlord did was to redesign the windows of the house then repaint it, after doing this he increased the price for does wanting to rent it.

 

[Sotherefore]

Most times it can be Abit difficult to sell or rent out houses with old designs, especially now that there are so many modern houses out there. What most landlords usually do is renovate the house. Like there is a building close to where I live, the house is old in terms of years and designs as well. What the landlord did was to redesign the windows of the house then repaint it, after doing this he increased the price for does wanting to rent it.

Yes this is true it can be very difficult sometimes , but for me I won't mind to buy a house if it is for historical purpose, but a normal circumstances it might actually be difficult for people to price an old building at a good price because most people will be interested to purchase and invest in the modern building. sometimes it is always the best for people to invest in land if they are considering their investment for long-term purposes because a land will always appreciate even after a period of so many years but houses may likely to depreciate.

 

[btaliat]

What your house worth depends on so many factors. These factors may include locations of your property whether it is rural area or urban. Also, there must be consideration on the materials used in building your houses. Factors like the structure of the house is also important and the social amenities that are close to the building. All these are great tools to determine the value of houses.

 

[sincerem]

Well said buddy, when the building apartment lacks those necessary qualities which you stated above, it will scare any potential buyers or tenants away. Buyers or tenants wants the best, so when the house is on substandard they'll simply go look elsewhere. When the house looks old fashioned we have everything to put in place and renovate or remodel it to look catchy again. This days eye catchy buildings in a populated and business minded place is what's moving higher. Even if you build such a nice looking commercial buildings like, hotel, restaurant & bar, plus car wash, grocery store etc, it wouldn't be in-demand due to low availability of targeted customers in there with most middle and low class people as inhabitants. Location is what matters too, in order to attract potential buyers or tenants to a commercial apartments.

 

[Alexandoy]

I am aware of the market value of lots in our village but I cannot say the same for houses. Some 20 years ago we bought our home for 1.6 million (that's in Philippine pesos). It was a fair price and some neighbors said that the actual value at that time was 2 million. The area by the village gate was grassy and muddy during the rainy season. After 7 years a small commercial center was constructed on the left side of the village. That's when I noticed that the selling price of lots here was rising. After several years a bigger commercial building was constructed on the right side of the village gate. Now the value of our property is estimated at 7 million to 8 million all because of the development. But if someone would offer to buy our home maybe I would tag a price of 10 million.