The Factors That Determine The Price Of Your Home

There are several factors affecting the price of your home. To better understand the housing market and its conditions and to know what price to expect, get familiar with those factors.

1. Property location

When it comes to location, there are actually a few factors here included:

• for families with children, the vicinity of the local schools is of great importance
• for those looking for a prospective job, employment opportunities in the vicinity are a big plus
• younger buyers, but also buyers of other ages, will appreciate the proximity of shopping centers, as well as recreational and social centers.

In most cases, even one of these three factors will up the price of the property. The more factors your property has - the better the value is.

2. Comparable properties

Properties in your neighborhood will also have an impact on the price of your property. Real estate agents will always do research on prices of recent sales of homes with similar features as your home, which will to a certain extent dictate the value of your property, too. 

The problem can be short sales and foreclosures which often lower the price of all the neighboring real estates. These comparable properties are what most influences appraisal - the nearby sales with similar conditions will probably dictate the price.

3. Updates and upgrades on the property

There will be some buyers who want to buy a property that they can upgrade on their own, but most of the time, buyers want a property where they can move in fast and simple. Consequently, they are ready to pay a premium for that possibility. 




Kitchen and bathroom improvements are definitely the most desired features by many buyers because that way they don't have to spend a lot of money to upgrade them and to experience a lot of headache in the process. Also, a brand new roof will definitely be worth investing, as many buyers appreciate a new, quality roof on an estate.

4. Property characteristics

The property itself will affect the price, but many sellers don't know how or which elements affect it. First of all, the type of house is important, whether it's detached, semi-detached or terraced. 

Its style can also make a difference - if the curb appeal is unique or there is some other impressive factor, it will certainly rise up the price. Also, if the property has some historical connections due to its age or, on the other hand, it's a new property with modern characteristics, it will also have an impact on the price. 

Still, professionals in Curtis valuations and other similar companies recommend you inform yourself on how exactly these features will impact the price.

5. Property size

Size of the property is important as it is connected to the occupied land which the property is on. The land itself actually impacts the value of the property. Its size can be very similar to the size of the property or it can really differ - it's best to know for sure before you put the property up for sale. Knowing the size can also be of use in the appraisal process.

6. Planning and building regulations

To build a property today, it's necessary to acquire a planning permission and building regulations. While a planning permission includes the size, shape and design of the property, building regulations include technical aspects and the construction process. 

If the property doesn't have these formal documents, it could be demolished due to illegal conditions under which it has been built.

Of course, there are other factors related, including:

• construction method - pitched roofs in slates or brick and stone walls together with a thermal block inside are preferable;
• repairs on the property - depending on the seriousness of the repair and the cost needed for it, it could decrease the value of the property.
• environmental factors - if the property is in the area prone to floods or severe storms, it's necessary to check its susceptibility to the environmental hazard such as those.
• sustainability - in the years to come, the aspect of sustainability and energy will be more and more important.

Final comment

As you can see, the price of your property is not dependable on one factors, but many of them, which are also dependable among each other. Some factors can't be changed or influenced, but you can do your best with the ones that can be.

6 Renovation Tips to Increase Your Property's Value

Since you have decided to sell, you may want to work out how you can get the most out of your old house. There are improvements you can make for a relatively small amount of money which is bound to prove to be a good investment. 

 Some you can do yourself, others are better done by a professional. Since you are doing them to increase the value, you want them done properly. Here are the alterations you can make and not go wrong.

Work on the curb appeal

Start at the front and leave a good impression. Decorate your porch and the entrance to your house. If need be, replace the front door as it is an invitation into your home. Keep your lawn tidy and do a bit of gardening and landscaping. 

Repair the path leading to your home, you do not want potential buyers to come across any obstacles on their way in. Another thing people tend to notice when approaching is whether you have a garage or not and how big it is.

Keep your conscience clean

Instead of hiding the flaws of your house, try fixing them. Inspect the entire house for little cracks, wobbly floorboards, and steps. These types of problems are usually easy and inexpensive to repair. 

Make sure everything is done prior to painting so you don’t have to redo the paint or even worse, leave something unfinished. The market does not have a rule in pricing related to these issues but this is a way to improve your buyer’s mood and opinion about the house.

Repaint the house

Depending on your budget, work out what parts of your house you can afford to repaint. Preferably it would be good to give it both, a fresh exterior and a fresh interior. If that is too much, make sure to at least repaint those rooms that needed plastering due to cracks, kitchen and bathroom if there is mold. 

I am not sure what your usual choice is, but this time choose neutral colors as you want the house to be liked by most people or at least neutral enough for them to be able to picture their things in the house. A new façade will add to the curb appeal.

Fix the fixtures

Again, this is an easy and moderately inexpensive trick. Fix or even better replace all fittings and fixtures in the house or at least the ones which are visibly run-down. Replace the sockets and light switches. 

If it is possible, install additional power sockets in rooms as people like when there are plenty. Replace doorknobs and you will provide that extra shine to your doors.

Adapt for special needs

Make your house a rare find. Not every house out there is suited for a family with members who have special needs. You can add a ramp and handrails to your front entrance. 

Level all doorsteps and have doors wide enough for a wheelchair to pass through. If possible, have a ground floor bathroom with a walk-in shower and at least one bedroom on the same level. 

The bathroom and the bedroom can be used by people who need home care, people with disabilities or elderly. Make sure that the bathroom is equipped with grab bars and anti-slip stickers.

Understand importance of kitchens and bathrooms

The more bathrooms you have, the better. Adding another bathroom may be a great expense so try to upscale the one or the ones you have. 

Again, replace all the fixtures and faucets. You want to remove traces of rust, lime scale and mold. Make sure that new fixtures match the bathroom tiles in style. If it is a really old bathroom, you can perhaps fix it up to look sparkly and vintage. 

The same goes for the kitchen, replace the sink and the faucets so everything looks shiny and new. You can repaint the cabinets and cupboards. Try to make it as spacious as possible.

Apart from the last bit of renovation, none of the things above should cost you much but will definitely leave a great impression and boost your house’s value. The only question is whether you will still want to sell after seeing the house in such a pristine state.