Regardless of all the home improvement tips you get, they could only give you a better home, but not a better selling price for your home. As you read this article, forget about all you’ve learned in raising the price of your properties. This is the truth about determining the true market value of your house.
If you have a house located in Silicon Valley, it would probably have a higher cost than a house established in a Californian suburb. Your neighbourhood completely determines your home’s actual value. Factors that affect the property prices include the average price of properties in the area, places of interest, inhabitant personalities and rate of crime.
2. Class of Home
There are many kinds of houses and materials used in constructing a home. However, most homes meant for ancestral family homages make use of sturdier material and feature architecture and designs that represent the era of the family. This class of home is much more expensive than other kinds of home. However, a house with two bathrooms or two garages is also more expensive than the average home.
Properties increase in price if demand for properties in the area are economically higher than the existing supply. Regardless of current neighbourhood status, an increase in interest in the area, even a suburban neighbourhood, will raise the prices of local homes and properties significantly.