What affects property values?

 

 

 

 

 

 

 

 

 

 

 

 

Some of the features that increase property values are obvious-like a remodelled bathroom, a modern kitchen, or a sought-after neighbourhood. But here are a few features and circumstances you have not have realised can affect property values.

  1. The neighbours: Not every neighbourhood or community has a Home Owners Association that can keep the neighbours from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbours can potentially be undervalued.
  2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores or trendy coffee shops, it can actually appreciate faster than the national average.
  3. Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
  4. Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.
  5. The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.
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