What Affects the Price of Your Home?

April, 2017

If you’re thinking of selling your home, you’re probably wondering what influences the value of your home. After all, in many cases, the price you achieve for your home directly influences the type of properties you can move to.

Here’s a look at some of the key factors influencing the value of your property in 2017.

The catchment area & school ratings

In some areas of the country, homes within the catchment area for a school rated as good or outstanding by Ofsted have been show to achieve a higher selling price. In fact, last year research by HouseSimple.com into the catchment areas of 50 state-funded Primary Schools in England revealed that families are paying an average premium of £44,000.

Location

‘Location, location, location’ is a mantra that all homebuyers – and sellers – are all too aware of. However, it’s as true today as it ever was. Homes close to local amenities, such as shops, parks and leisure centres, regularly achieve higher selling prices than properties without this ease of access. Of course, many other factors influence location-based value fluctuations, such as scenery, whether a property is north or south-facing, and the proximity of neighbours.

Wi-Fi & broadband speed

Wi-Fi and lightning-fast broadband speed are now considered essential to many modern-day homebuyers. Poor broadband speed can put people off your home entirely. You can check the broadband speed with this handy free broadband speed checker.

Transport links

Homes and apartments in close proximity to train stations and transport hubs tend to sell quickly. Improved transport infrastructure in your area will usually result in a beneficial effect on property prices in your area.

Crime rates

The majority of buyers will (and should) take a close look at the crime rates of the area they are thinking of buying in. To find out if a high crime rate is affecting the price of your property, take a look at the official policing website. Crime rates for England, Wales and Northern Ireland are available here.

Kerb appeal

Most of the factors listed above are out of your control. However, the ‘kerb appeal’ of your home is very much in your hands. But what is kerb appeal anyway? It’s simply the way your property looks from the outside. Overgrown gardens, junk-filled lawns and peeling door frames can all reduce your home’s appeal – and value. If you’re serious about achieving a decent price for your property, make sure you take care of any odd jobs and repairs outside your home. Tasks to get to grips with include repainting exterior doors, gates and fences, clearing debris from the garden, weeding the garden path, and ensuring the lawn is freshly mowed.

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