As we have discussed, buying and selling a home goes beyond aesthetics. Yes, a beautiful garden and freshly painted trimming will add value to a home and make it appear more desirable. However, the building itself cannot be the only important factor. One could even argue that location is the most important thing to look at when choosing a home.
Location is important for a number of reasons, the most prevalent being that you need to find a home in an area that will suit your needs and desires. For example, if you have teenagers, finding a safe neighbourhood with good public transportation lines and nearby recreational facilities is preferable. What about the flip side? Why is location important to people selling their home?
Location is important for people looking to sell their home because they must be aware of where their property is situated and what affects, both positive and negative, that has on the home. Another example: if your home is on the east coast of Florida, it will likely be getting hit by multiple hurricanes. This is something your buyers will be aware of, and therefore, you need to be aware of it too. Why? Because the location of your property will affect how much you can ask for it.
Here are five location-related things that will affect the price of your home:
1). Crime-rate for the area: People want a home that is going to be safe for themselves and their families. If your home is in an area saturated in crime, you will not be able to ask for as much as the property itself may be worth no matter how pretty your house is.
2). History: Areas with a rich history, such as the Montgomery and Bowness communities, often have beautiful historic homes! The fact that it is a relic from the past can add a lot of value. Just make sure that while your home may be an antique, things such as heating, stoves, bathrooms, etc. are not.
3). Environmental Factors: Lucky for us Calgarians, we don’t experience much extreme weather. However, it is still a good thing to be aware of (remember Florida and their hurricanes?). Be aware of previous weather-related issues and keep them in mind!
4). Ammenities: Homes that are close to things such as grocery stores, malls, recreational facilities, banks, movie-theatres, etc. have a lot of added value to them! Because they are accessible and close to so much, you can ask for more. You are in an optimal location!
5). Roadways: Traffic is one of the biggest things that affect asking price! If your house is on the corner of a four-way intersection, future home-owners are going to deal with just as much noise as you did. That being said, if your home is close to major areas or highways, that can be a good thing because it means it is accessible! It is a fine line!
Remember that your real estate agent is your greatest asset in helping you evaluate your home’s value! Remember to be bold, but fair.
Posted by Ken Richter on
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