Jason Gelios Michigan REALTOR®
  • HOME
  • MEDIA ROOM
    • AskJasonGelios Show
    • ON SOCIAL MEDIA
    • PRESS
    • JASON'S BLOG
    • HOMEOWNERS UPDATE
    • Jason's Books
    • PODCAST: AskJasonGelios Show
  • SELL
  • BUY
    • GET APPROVED
  • Connect With Jason Gelios
  • TESTIMONIALS
  • SENIORS

How Location Can Affect Your Home Value

10/19/2022

0 Comments

 
Guest Writer: Sally Norton
Picture
Image courtesy of Pexels
​Nowadays, it is essential to know the actual price of your house, if only to value the property at its best. One of the best ways to appreciate the cost of your home is the location it is built, but why does a good location mean a higher price in the first place? Let's see some of the reasons why the location can affect the value of your house.
 

Town dynamic

First of all, the city. A good location can be determined by the town dynamic or the community in which your home is located. A healthy community with a good economy and a mixture of residential can provide excellent job opportunities and maintain road and city services. Neighborhoods, towns, and cities that are well-maintained and clean can boost the sense of community pride, giving much greater value to the area's houses. As the first rule of economics dictates, Supply and Demand determine value. One of the most significant factors is that the more a place draws the attention of buyers, it is only logical for the prices to increase.
Picture
Image courtesy of Pexels
A clean and safe location can affect the value of your house
​Neighborhood dynamic

​Another factor that plays a role in choosing the perfect place is the local neighborhood dynamics. A neighborhood with known criminal activity will value less than a good one with no illegal activity. Also, studies find that the houses in the middle of the block must have particular similarities since it draws more attention when you have homes with the same decoration and building styles. When you do, they have higher value and draw much more attention from potential buyers. And, after all, we must remember that when you have a high-value house, it is easier to sell it and move to a new place. Such experts from statetostatemove.com can advise on the best locations to buy your next home.
 
Last but not least, we should mention that a neighborhood appeal differs for every person and is a fact of personal choice. However, some common factors, such as accessibility, appearance, and amenities, make a neighborhood great. So, let's analyze them.
 
Accessibility

In terms of accessibility, you must look for a neighborhood near a city's major transit routes where there are many entry points. Commuting to and from work is one of the biggest parts of your daily routine, so a house near public transportation will make it more appealing. Appearance can also have its part in the way one chooses a home. A good neighborhood with parks near the house will make it seem much prettier than other choices, drawing attention and making you remember it.
 
Now let's explain the facts that make a house more expensive than others. Experts find home buyers with children will highly value their children's education and development. As a result, they are willing to pay more for a house near a school district and even more if the school has a good reputation and is close by. Do not forget that buyers with children consider this as one of the main factors for choosing their new house.
Picture
Image courtesy of Pexels
The more accessible the house is, the more its value increases
​Furthermore, the more shops nearby, the better. Everyone, after all, needs shopping, from groceries to clothes and all manners of things for the house. Having that in mind, we can clearly understand that houses closer to shops and malls are casually being sold for higher prices than others. Mainly if near the house exists a 24/7 shop, that alone can increase the house's value by up to 5%. Also, one more reason the location can affect the value of your house is if it is near any entertainment places. Places like movie theaters, plazas with different types of activities for any age, parks, gyms or fitness studios, and, more casually, clubs and restaurants. If places like that are easily accessible from the house, it can significantly increase its value. And lastly, we have amenities, like the ones mentioned above, restaurants, supermarkets, and many more daily routine shops we visit every day.
 
View

There are knowledgeable experts that can share their expertise on what and how location can affect the value of your house, but one of the basics which always play a major role is the view. The view plays a major role in psychology, and most people prefer a house with an open view over one where you can almost touch your neighbor if you step out onto the balcony. While this might be different from person to person, if the house has a view of mountains or a panoramic view of the ocean, it will give a higher value to your house. Even the sound of waves crashing on the rocks from a distance, without any view, will have this benefit.
Picture
Image courtesy of Pexels
Great view is a big factor in a house price
Centrality

Centrality is one of the first things that determine the price of a house. Where you choose to live, whether it is a city, a town, or a village, will greatly affect its value. The land is a finite commodity, after all, so the most logical thing is that the bigger the city, the higher the price is going to be. That said, if the city is small, it does not have many ways to increase the value of a house since it has fewer shops, schools, etc.

The last factor is what time of the year the house is being appraised. A house near a beach, for example, will usually cost more during vacation time and less during the rest time of the year. If you found the perfect house but the time for the prices to go up arrives, then, in order to save time when moving long distances, it’s best to relocate now, even if it is done on short notice, because real opportunities are rare.
 
Conclusion

In the end, we can safely say that there are many ways location can affect the value of your house.
I hope this guide covers everything you need to know and that it makes the selection of the perfect home all the easier.

Picture
Sally Norton is a freelance copywriter based out of Miami, with a flare for writing optimized articles. Her experience is focused on moving, travel, real estate and overall guides to help people with some challenging projects and endeavors. In her spare time, Sally enjoys yoga and walks with her dogs - Mane & Rex.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.


    Picture

    Author

    Jason Gelios is a  Husband and Father. After that, a Top Producing REALTOR®, Author of the books 'Think like a REALTOR®' and 'Beating The Force Of Average', Creator of The AskJasonGelios Real Estate Show and Expert Media Contributor to media outlets across the country.

    Jason is dedicated to providing real estate advice and education to home owners, buyers and sellers with content that is practical and based on real world situations.

    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    April 2015

    Categories

    All

    RSS Feed

About Jason Gelios
For Buyers
For Sellers
Think Like a REALTOR® Real Estate book
Valuable Resources
AskJasonGelios Real Estate Show
Jason Gelios' Real Estate Blog​

In the press

Contact Jason Gelios
Copyright    All Rights Reserved 
Photos from wuestenigel, MarkMoz12, Spencer Means, Mrs Airwolfhound, r.nial.bradshaw, MarkMoz12
  • HOME
  • MEDIA ROOM
    • AskJasonGelios Show
    • ON SOCIAL MEDIA
    • PRESS
    • JASON'S BLOG
    • HOMEOWNERS UPDATE
    • Jason's Books
    • PODCAST: AskJasonGelios Show
  • SELL
  • BUY
    • GET APPROVED
  • Connect With Jason Gelios
  • TESTIMONIALS
  • SENIORS