What factors influence the price of my home?

price

Most people have the objective of acquiring a home of their own to have an equity, so it is very important to consider the factors that influence the type of investment that is planned and, to reach a conclusion, it is necessary to solve a first question: What is the price of my house?

There are many types of homes , with characteristics that raise their price, since they have the factors that allow it or, where appropriate, that lower their value.

The ideal ends up being different for each person, but there are generalities that everyone should have and here we will tell you the key points that make the value of your property increase or decrease.

Factors that increase or decrease the price of a house

-Location

art-01-Location

When you think about the price of a house, it is not the same to speak of a rural area, a suburban area or a totally urbanized area, such as a city.

Location is a fundamental factor, if not the most important, since through a good location you have better access to services offered within the area.

You must have connectivity with other populations, mainly by land, a nearby transport network and access roads. Plus, it’s one of the things a prospective buyer will put their primary attention on.

-Capital gain

art-02-Capital gain

The capital gain is the profit made as a result of a positive difference between the price at which an asset and its sale price in a transaction or economic transaction was purchased.

Goodwill increases due to the influence of factors such as:

  • Location of the property.
  • Area security.
  • Connections (roads, shopping centers, transport lines).
  • Close to main avenues.
  • Accessibility with schools, supermarkets.
  • Size of the property (although this is relative depending on the area).

The capital gain increases the value of your property over the years, so if at a certain moment you apply for a mortgage or want to sell it, you will be able to get much more money than you invested.

-Panorama

art-03-Panoramic

One more point that is subject to the previous two is the specific location that gives the owner that tranquility of a privileged view of areas with nature, be they parks, gardens or the sea, allowing them to enjoy and connect with the natural world.

The ecological views are in high demand, mainly because after a day of work it is more pleasant to return home to rest the mind.

-Size and height

art-04-Size-and-height

There are many home designs, but what is sought is that they have the necessary space for good family development, and that the personal space that is needed to have a good coexistence is not damaged.

The main demand is for homes ranging from 50 to 200 square meters.

The number of spaces it has is also taken into consideration and, among them, mainly the number of bedrooms. Statistically the tallest houses have a higher price in the real estate market.

-Conservation and quality

art-05-Conservation-and-quality

There is the new home market and the used home market. In the first case, it is important to consider the type of materials with which it was built and therefore make the calculation of the life time that the construction will have.

In the second case, the life span of the home and how the materials with which it was built have responded over time and the use given by previous tenants must be considered.

-Equipment

art-06-Equipment

In addition to the comfort that a home can offer due to the distribution of spaces, the location and the exterior design, there is the equipment that it can count on and give added value, be it a pool, sports equipment, garage, as well as how friendly it is with the environment.

Buy a house with mortgage credit

art-07-Acquire-a-house-with-mortgage-credit

The application for a home loan will take these factors into consideration, so the suggestion is to opt for a new house, since it has more advantages due to cleanliness and conditions.

Although there are also options to acquire homes that need maintenance, remodeling and, where appropriate, finishes.

A purchase of this type should be studied considering the factors mentioned in the previous section, to establish a profile as a buyer according to the needs and thus request the mortgage loan that best suits you and better know the price of your house.

 

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