Home Selling: How Can Location Affect the House Value?
Location is primarily one of the major factors that affect a house's value in the real estate market. How do you know if your house's location can increase or decrease its value?
Determining the fair value of your house is one of the major steps to do once you have come up with the decision to put up your house for sale. One of the things that help determine the house value is location.
As previously reported here on Realty Today, a good location is one that generally provides convenience and accessibility to its potential buyers. One that provides easy access to and from your kids' school or one that is close to the grocery almost always helps boost the value of a property.
However, Realty Times noted that there are still times when location might be deterrent to your house value instead of helping you get the maximum selling price.
While some initially believed that a house located near a well-performing school would immediately raise the value of the property, the publication noted that there are still certain factors to be considered.
If the house is too close to the school that it takes a considerable amount of time before you can get out of or into your home because of the traffic caused by parents and guardians picking up or dropping off the kids, then it might not be as attractive as you once thought.
A house that is near amenities such as grocery stores is also thought to increase the house value. However, not all amenities can help boost the selling price of your home.
Nearby places such as adult entertainment spots, an airport or tattoo parlors can sometimes ward off some buyers because they are sometimes thought of as indicators of a high-crime area.
A quiet environment is also a good thing for those families who wish to stay away from the hustle and bustle of city life, but deafening silence can be scary for some.