Buying VS Renting. Which is Better?
Selling a home is no easy task as many real estate agents also have problems determining what factors and features will become selling points in the current economy. It is very difficult to determine the value of any type of real estate; Wesley Chapel real estate agents know all too well that there are just as many factors that can boost a property’s value as there are that can lower it. For example, how do you determine which house is more valuable, a three-bedroom home or a four-bedroom home with the same amount of square footage? Here are some of the factors that can affect the price of real estate.
Location is a Huge Factor
When real estate agents talk about location, they are not referring to which part of the state you are looking to own property at, but rather where in the city it is and what is around the location. In a classic example of real estate, Wesley Chapel residents can agree that a home with waterfront is going to be more expensive than a home that has no water access. Some neighborhoods in towns are not created equal as a large amount of money can get you more in one neighborhood, but less in another. What is located within walking distance from a property will drastically affect its price.
Age and Condition
Depending on the condition of a home, the age of a piece of property can also affect the resale value. When it comes to stereotypical modern homes, the older the house is the cheaper it will be generally. Granted if you want to increase the property value of old real estate, Wesley Chapel residents should consider remodeling and performing renovations. However, if there is a historic home or property that is in okay shape for its age, it will cost way more than a modern equivalent.
*Disclaimer: The views expressed here are those of the authors and do not necessarily represent or reflect the views of The Vision Team*
Related posts
