Location is one of the most important factors to consider when evaluating a property
The address is often the first-factor people take into account when considering a particular property. If a home has an impressive street address, it might be more appealing to buyers than other properties on that particular street. Prospective buyers may be willing to pay more for an address that is associated with luxury and prestige.
Location Is King: For buyers and investors alike, location is one of the most important factors when considering a property's value. A desirable address can mean a higher market value, higher resale value, and greater likelihood of quick turnaround.
- Local amenities: Is the property near any local attractions, schools, hospitals or other amenities? Being near such popular places can enhance its marketability.
- Neighborhood: What kind of neighborhood is it in? Generally speaking, upscale neighbourhoods tend to bring higher prices than lower-end ones.
- Accessibility: Is the property easily accessible? Is it close to highways or major roads? Easy access can mean higher desirability and increased prices.
Floor Position and Layout: Higher Floors Command Higher Prices: Location is one of the most essential factors when it comes to evaluating a property's value. This is especially true for the floor a project is situated on and the property's layout. Generally, properties located on higher floors tend to command higher prices, as they offer better living conditions like more sunlight, better views and less background noise. For commercial properties, those located at ground level are more desirable than those on higher floors.
Orientation and Vastu: South-Facing Homes Are Most Sought After
Orientation plays a crucial role in determining the market value of a property, both from the perspective of resale value and also rental yield or capital appreciation. Some tips for evaluating a property's orientation include:
- Consider how much natural light is coming into the house
- Check for any obstructions that may limit access to sunlight,
- How does the view look? Will it increase in price over time?
- Does it follow Vastu guidelines for better health and prosperity?
The orientation of a residential property can have a major impact on its market value.
Accessibility and Connectivity: Proximity to Transit and Roads: Accessibility and connectivity are critical factors in determining the market value of a property. Prospective buyers are always on the lookout for properties that are close to transport hubs, such as airports, railway stations, and bus stops, as well as major roads. This is especially important for those looking to live in or near a city. Proximity to major developments such as malls, commercial buildings or highways can also be beneficial.
Neighbourhood Amenities: No matter how perfect a home may appear, its appeal can be easily diminished by the presence of undesirable elements nearby. To ensure that your next property is of value, take a closer look at its surrounding environment - what kind of parks and schools are available for leisure and education? How about hospitals and medical care centers? The nearest parks, schools and medical institutions can be invaluable assets to potential buyers. When evaluating a property, consider these neighbourhood amenities for the maximum possible market value:
Location is one of the most important factors in determining a property's value. The address of a property can have a major impact on its market value, as a location can provide benefits ranging from easy access to transportation and amenities to aesthetic advantages. By taking these factors into account, you can be better equipped to make informed decisions about investing in real estate and make the most from your investments.
(The writer is the founder and Director – InfraMantra)