Neighbourhood Features that help in Increasing the Price of your Property
Feb 04, 2020 Home Trading Steps
Be it the property end-user or an investor; nothing makes us happy knowing that the price of our property is rising steadily with time. A property owner knows that a suitable property will fetch a reasonable price and a buyer in the market. The project delays, the property prices show that the buyers are more inclined towards investing in resale and ready-to-move-in properties rather than investing in the under-construction properties.
However, when it comes to resale properties, a lot of factors depend on the price. For example, the condition of the property, the locality, the type of material used in construction etc. are the essential factors that determine the price of the properties.
We discuss the neighbourhood factors that drive the price of the property:
However, when it comes to resale properties, a lot of factors depend on the price. For example, the condition of the property, the locality, the type of material used in construction etc. are the essential factors that determine the price of the properties.
We discuss the neighbourhood factors that drive the price of the property:
- Good schools and educational institutes: The times had gone when people used to buy homes after or near their retirement. People can now afford to buy homes while being in their 30s and even 20s, thanks to the home loans that the banks and financial institutes give out. With parents being busy with their jobs, they want their child to get the best education. And what better than an excellent educational institute or school in the neighbourhood.
It is a known fact that localities with the good school are bit pricier than the rest. The investment, in this case, is not just on the property but also on the education.
- Proper healthcare: Having good medical and healthcare institutes can also push up the price of the properties. Be it old people or the younger generation, healthcare and medical facility is a need for all. The localities where good hospitals and medical institutes are located, the prices of the properties are higher than others.
- Malls and retail outlets: In the age where e-commerce websites are taking over the brick and mortar stores, the buyers still look for good retail therapy to escape the hustle of daily life. A good or renowned shopping mall ore retail outlets hike the price of the properties significantly. The area that is located in the older part of the city is considerably pricier too.
- Proper connectivity: With the cities expanding to the suburbs every day, it is only a prime requirement that the locality must be appropriately connected to the significant parts of the main city. With proper connectivity comes the great price of the property. The demand for such locations is always high.
- The perception of the locals: No matter how much we like to avoid stressing over it, but public opinion matters. If the locality is not deemed worthy by the locals, then the price will not rise above a specific limit. However, the localities that are considered to be as posh or goodwill have reasonable property prices than the rest.
Looking for property portal?
Related Articles
-
Things to Check Out before Buying Hill Slope Homes
Apr 18, 2017 -
Amenities that your housing society must have
Aug 09, 2017 -
-
See comments (0)
Write a comment
