5 Signs Your Property Has High Resale Value

The selling price of your house can be influenced by a number of features. Before putting your home on the market, it’s critical to consider important factors to get the best price, which can make a big difference in how quickly your house may sell.  According to real estate experts, overpriced homes may not sell for months (or even longer), while those that are priced in accordance with current market trends receive an offer in about a month.

Graana.com, Pakistan’s smartest property portal, gives an overview of the important factors that can affect the resale value of your property. 

 

Location of the Property

 

 

Whether the property is commercial or residential, location is the single most influential factor impacting its value. If the location of your property is desirable, the value of your property is bound to appreciate. A good location often means a quiet neighbourhood, excellent infrastructure, better facilities and proximity to nearby landmarks. All these factors together can appreciate or depreciate the value of a property.

 

Safe Neighbourhood

 

 

Another factor that affects the property’s value is the safety of the neighbourhood.  No one would be willing to rent let alone purchase a property in an unsafe neighbourhood. Some prominent features that can be identified in a risky neighbourhood are:

• Barbed wire fence around the property
• Excessive security
• Gang activity
• Vandalism
• Damaged public property

 

Floor Plan of the Property

 

 

If the floor plan of the property resonates with a lot of buyers, the value of the property will, as a result, appreciate. Therefore, always be mindful of the things to consider before designing a floor plan. Given below are some features of a good residential and commercial property.

 

• Because there are no steps, one-storey homes offer the best resale value. One-storey homes are better suited to the demands of aged purchasers and those with physical constraints.
• Having all bedrooms on the same floor is typically more convenient for families with young children. In light of this, properties with a master bedroom on a separate floor may struggle to sell in some markets.
• Three-bedroom homes are more popular than two-bedroom homes.
• The majority of the purchasers are likely to be drawn to an open floor plan with a planned and efficient flow.

 

Floor Plan of a Residential Property

A family-friendly floor design should have the following features:

 

• Number of bedrooms that meet your requirement
• Bathrooms with appropriate plumbing
• Kitchen and dining room

If your home is priced in the right niche but lacks sufficient bedrooms, a property dealing company can estimate how much it would cost to build more rooms.

 

 

Floor Plan of a Commercial Property

On the other hand, if you are looking for a commercial property, you can consider the following features while looking at the floor plan:

 

• Optimal use of space
• Easy access navigate
• Maximum use of natural light
• Conference rooms
• Lobby
• Cafeteria
  

Curb Appeal

 

 

In case you are looking for a suitable property, you should always consider curb appeal potential so you can take into account how much it can be enhanced without spending a lot of money. Homes with high curb appeal can enjoy a reasonable rise in resale value. Fortunately, even if your home’s curb appeal is currently lacking, you can these tips to enhance your home’s curb apeal.

On the other hand, if it would be costly to make the exterior of a house more presentable, you should reconsider buying it. When purchasing a home, it is far more convenient to get a maintained and presentable home, as it will save the added cost of revamping it. 

 

Amenities

 

 

Amenities available in the neighbourhood also impact the price of the property. Families searching for a home will ideally be looking for one that is in proximity to reputed schools, well-stocked markets, and parks. The closer a house is to these facilities, the higher the value of the house.

Similarly, an organisation looking for a commercial property will prefer a location that is easily accessible and has sufficient parking space, power back-up, and eateries nearby.

 

Other Factors Affecting Resale Value

Some other important factors to consider, besides the ones mentioned above, are:

 

Tap Water

Pakistan is currently facing a water crisis; numerous housing schemes in Pakistan are already running out of water. Lack of access to water in a potential property can be a dealbreaker. On the other hand, access to a reliable water source can raise the value of the property.

 

Corner Plot

Corner plots have three added benefits: more light, better ventilation, and extra space. They usually have more space because of adjoining roads running across the front of the property, which allows for more parking space.

 

Storage Space

Automobiles, sports equipment, cookware, apparel, yard and garden equipment are some of the essential items in any household. Buyers prefer homes with spacious garages, plenty of built-in internal storage, and attics where they can store all their belongings. If a property has good storage space, it can appreciate the value of the house.

 

Upgrades

Seemingly minor upgrades can greatly affect the value of a house. For instance, a house that has laminated wooden floor or has different types of flooring tiles along with great lighting will have more demand as compared to other properties. These are considered the best value for money and therefore, attract more buyers. Consequently, more buyers mean the price of your house will also increase.

 

In a Nutshell

Whether you are a homeowner looking to sell your house, or a real estate investor looking to buy a house to earn profits in future, you can look at these signs to make a good deal. 

Lastly, it is important to remember that successful real estate investors focus on the property’s potential for land appreciation rather than the stylistic features of possible home purchases. This entails ignoring the most appealing dwellings in a chosen area and focusing on those that offer prospects for improvement, perhaps increasing the land’s value.

To read more about residential and commercial properties, visit Graana.com.