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4 Factors That Affect the Value of The Property

Business By · January 12, 2021 · 566 Comments

When evaluating the factors that affect the worth of the property, location holds paramount importance. Of course, nobody can underestimate its significance since it is the real aspect that determines the actual value of any accommodation. That said, there some of the other aspects that require your consideration such as market value, the curb appeal and living condition of the dwelling you are residing in.

 

One thing that demands special attention while dealing with the real estate of India is the actual worth of the property. And of course, yes, prices vary, depending upon the features you are looking for while buying it. 

So, whether you are looking for flats for sale in Thane West or some other prestigious location in India, its time for you to be aware of the other characteristics of a property that can affect its price and worth. Let’s get to them now!

Location

One of the most important factors that affect the value of the property is its location.

No doubt, it stands first when you evaluate the worth of any real estate. And certainly, the value of properties in urban areas is higher when compared to rural areas. So, how to figure out whether or not the location is suitable? The close vicinity to schools, parks, shopping place and easy access to the city’s topnotch destinations increases the value of the property.

In short, it is the location that can either increase or decrease the worth of the property.

Condition

A well-maintained property holds great value in real estate of India.

The next thing to take into account while determining the worth of the property is its condition. Everyone wants to buy a house in good condition, be it new or old. That is to say, a living space which is well-maintained will always be in limelight as compared to the one which is in a bad state.

That there some things that should never be underestimated if you want to keep your property in tiptop condition. Check if your dwelling is in need of paint or not, analyze the conditions of the walls both inside as well as outside of the property and also inspect about the placement of the fixtures.

You need to fix all the broken or damaged items instantly. Plus, check for any plausible plumbing leaks because they can cause tremendous damage to the living space. Such types of unfavourable situations can decrease the price of the property.

Curb Appeal

Curb appeal excellently enhances the value of any property. It is among the most significant factors affecting property value. Therefore, by adding a few simple changes and modifications, you can make your property look more appealing.

For example, if you have generous space, consider working on the aspect of gardening on your living space. A decorated driveway or veranda can make your property more attractive. Make no mistake while doing this and it will ultimately increase the works of the value. You have more room for negotiation if your house looks beautiful.

Security

All neighbourhood consider placing CCTV Cameras to increase security.

Would you ever wonder about buying a property in an area that has a higher number of crime rate? Of course, not. Everyone wishes to reside in a secure home. And as far as the matter of security is concerned, it all depends upon the location of the property.

India is now witnessing the emergence of new residential communities. These places feature gated and guarded environments and, therefore, have a higher value in the real estate of the country. Moreover, upscale alarm and security systems these days are a source of great relief to both buyers and sellers. Therefore, buying a 2 BHK flat for sale in Thane West in a building that has a sound security system has more value than the one that doesn’t have. 

The Final Word

It’s always a prudent choice to make a checklist while evaluating the property. In fact, these are among the most basic factors relying on which the worth of the property can be determined. If you get yourself aware of these significant factors, you will be able to understand whether or not the property is worthy to buy. In case you have plans to sell the property, you certainly have a better idea as to what you should do to earn more profit.

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