What affects the price of a house?

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House prices are influenced by lots of different factors. You’ll often hear people say that it’s all about location and to an extent that’s true, but there are lots of other things that feed into the equation too.

Inside and out

Of course the property itself is a major consideration. Buyers are typically looking for specific features like the number of bedrooms and whether there’s a garage. Depending on the supply of properties of a particular type in the area prices can vary according to whether there are enough to meet demand.

Much of the buying decision for a house comes down to whether or not potential purchasers can see themselves living there. This is down to the size of the property but also how it’s laid out. Some people don’t like open plan designs for example. If you’re planning on making changes to your existing property it’s always worth considering what effect they are likely to have on its value when you come to sell, particularly if you intend to change the layout. Adding an extension or converting a garage into living space may restrict the options for future owners.

Home Buyers

The condition of the property also comes into play here too. Does the décor need attention, is the kitchen looking dated, are the window frames in need of replacement? All of these will affect the price of the house as buyers will want to factor in the cost of carrying out renovation work. If you have a homebuyers report Berkshire has several providers offering them like https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-Berkshire and this should highlight any issues such as whether the property is energy efficient.

Location

Location remains perhaps the most major factor, but there’s more to this than whether a house is in a particular town or is close to a good school or near the shops. For example, buyers will look at whether the area has been liable to flooding in the past (https://www.isurv.com/downloads/download/1132/what_is_the_impact_of_flooding_on_property_values_rics) and this can have a significant effect on prices.

It’s also important to consider what else is going on in the local area. Are there pending road or rail projects that could make it more attractive to commuters? On the other hand, is there extra housing development planned for the area that could place added stress on local services like schools, healthcare and transport?

If you’re coming up with on creating changes to your existing property it’s continuously value considering what impact they’re probably to possess on its worth once you come back to sell, notably if you propose to vary the layout. Adding AN extension or changing a garage into room could limit the choices for future house owners.