What Determines your Property Worth?

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Buying a house is a nerve-racking decision not just in terms of money invested but also the search labor when deciding where to find your perfect homestead. It is one of the biggest decisions of your life but what’s more important is picking the right place for you to build your home on as the land appreciates over time and the significant increase in land value is what matters not the beautiful façade of the house which withers off in due time. Overlooking the property as ‘lucrative investment’ by simply focusing on its accommodation, functionality or beautiful structure can limit the property’s opportunities to maximize wealth.  So let’s talk about those factors which determine the value or rather should we say drive up the property worth so that you focus on it when going house shopping in the future.

Location

When buying a house always search for residential properties alongside the commercial area and at the same time provides privacy. So places near to parks, schools, restaurants or commercial market has higher market value than areas that are secluded from main commercial center and easy accessibility via roads.

Conditions

A home that is shabby and unkept with wall paint falling out and blocked or broken sewerage pipes will have less market value compared to obviously a well-furnished and good looking home. So when buying  a readymade home or trying to sell a home make sure everything is on-point and just to make it more appealing slap on a fresh layer of paint on the walls to make it look new.

Home Styling

When you are buying a home the first thing that catches your attention is its physical appearance that’s how the home looks like with fresh colorful flowers blooming in the gardens and classic interior décor with a touch of minimalist look to give it a roomy feel with an element of oomph with some deluxe fixtures and artwork.  A home that emanates a cozy vibe that touches your sensibilities is what drives people to invest and consequently pushing up its property worth on the market scale.

Security

Nothing is worth it if not safe and secure for your living! I am sure the whole public will resonate approval to this statement. Any place that is safe with high CCTV surveillance or security checks at the entrance or a society with electronic gate with security team patrolling at night for criminal activities will propel investment in the region. DHA, Bahria Town, Model Town and Wapda Town are some of the top ranked safest towns in Lahore, and needless to say why it’s overcrowded with homes.

Demand-Supply Equilibrium

The market performance plays a vital role when determining property value that implies how much of certain units home or plots have been sold and bought in a specific time period. Of course there are numerous driving factors in it such as inflation, economic conditions, and political unrest etc. but in general if for instance people are investing in plots in DHA Lahore in spades, it implies that market performance is ripe and things are looking bright, and you should dive in and invest without a care for future returns.

These factors aid to understand where the property might head towards in future but it’s always smart to hire an agent or realtor to back up your assumptions and guarantee you a safe investment.

Good luck house shopping to those in search for it!!

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