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What Makes a Property Valuable?

By Cathy Pieroz

As one real expert comments: “All the stuff you can add to a house is worthless.  It’s the things you can’t get again that are really valuable.”

Property everyone would agree that the foremost property enhancer is location.  This can mean many different things to buyers.  Some want beautiful views.  Others a nice neighbourhood, nearby schools, easily accessed medical facilities, shopping centres, etc.  But number one on most people’s list is location.

Then you have land size.  In areas where land is scarce, this is a very important factor.  It declines as scarcity declines.

Aspect can make a big impact as well.  A sunny northern aspect appeals to nearly everyone.  Two identical houses with backyards, facing North in one case and South in the other, may find the former has a price premium because of its aspect.

Next is house size.  Many consider this to be the biggest selling point after location.  The trend has been to buy bigger and bigger houses.

Building materials are also a factor.  One valuer believes that brick construction will always be popular.  Sometimes, however, timber can be preferred by some buyers.

Regarding renovations, people tend to look these days at general condition of the house.  They also want a property to last or that has the potential to be renovated to their own taste.

If you would like to market your property or wish to purchase a property, feel free to give the TEAM at Ray White Alexandra Hills a call on (07) 3824 2700.

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