Vahe Hayrapetian Elaborates How Location Affects Your Property Value

You may have already heard that location is one of the primary factors that affect a property’s value. It is no secret that some areas are just more desirable to live in than others and are, then, more expensive. There are also certain landmarks and structures around your home which can cause the prices to either go up or down.

Understanding these factors is extremely important because it allows you to anticipate if the property will be a great investment. As a buyer you should avoid investing the money you’ve loaned, from home loan specialists like Vahe Hayrapetian, in properties that will barely appreciate in price.

Contrary to what others think, the house itself does not appreciate over time, but rather it is the land underneath that drives the price tag up. It is only through home renovations that the actual house can increase in value, but this increase can be negated if the location is unfavorable. This is why location is still one of the most important factors to consider when buying a home. Here are some ways location can affect the price:

• Water-front Properties – Beachfront, riverfront, or lakefront properties are some of the most expensive homes because they are highly limited. If you want to buy a waterfront property, make sure that you have excellent credit records so you can borrow from loan originators like Vahe Hayrapetian.
• Roads – Road-side homes (especially those along main roads) are lower in price because of the noise and potential danger that they bring. The best (and most expensive) are the cul-de-sacs that only allow a one-way limited access, and is ideal for privacy and security.
• Ground Level – Elevated grounds are expected to be more expensive due to their lower chance of getting flooded, as well as the great view they provide.
• Establishments – Restaurants, malls, cafes, and parks all increase the value of the homes around them. Living near these establishments sounds great; just make sure your pocket agrees.
• Cell towers, dumps, and power plants – Homes near cell towers, dumps, and power plants are lower in value, but pose certain health risks. What you may have saved on home purchase may have to be used to pay for medical bills, so pick wisely.
• School – Homes near good performing schools are higher in price than those around average schools. On the other hand, properties near low-ranking schools command a lower price; but then, of course, you’d always want to target the better schools, right?

After finding out how locations affect the property value, assess the home renovations done by reading this article: www.moneycrashers.com/7-home-improvements-to-increase-its-value/.

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