4 Interesting Factors That May Affect Your Home’s Value

March 7, 2018

Our homes are one of the biggest assets that we amass during our lifetimes and many a time we don’t know what their exact value is. While this is an important figure to unravel, it is interesting to know the number of factors it depends upon.

In India, there are lot of things that decide how much your home is going to cost. Getting to know the exact value can help you make monetary decisions such as real estate investment, selling a house or renting it out profitably.

We at Spacio have uncovered some simple yet unique facts that may affect the value of your home. Read ahead to know if your home has these things!

  • Proximity to a Famous Restaurant

Homes that are close to a highly famous restaurant always have the tendency to sell out a little expensive than others. If your locality has a star-studded restaurant or a market destination that is particularly popular, you can evaluate your home in a higher price bracket.

Most Mumbai homes that are closer to international restaurants like Starbucks or Celini, usually have a higher evaluation. This may be linked to the area rate or not but the effect has been widely observed.

  • Color of the Sanitary Fittings

How many homes have checked out before finalizing on one? Did you check the bath fittings? Did you observe the color?

The color really matters! The quality of interior of the house acts as a key factor towards deciding the final cost of the house. Usually, houses with luxury colors inside the house turn out to be much more high-paying than with dull colors.

White is supposed to be a dull color and vibrant colors like red and blue actually add to the overall value of the house. So, if you old sanitary fittings, you may want to consider getting a new set before letting your house on rent or showing it to a broker.

  • Art-inspired Interiors

Just like colors, artistic interiors add a lot to the beauty of the house and hence, to the value. It was found that cottage inspired houses with antique wooden doors and luxurious cutlery shelves attract a higher price point than others.

Other interior decorations such as wooden floors, chandeliers and decorated balconies add a touch of aesthetic to the house. You will often observe modern apartments developed by esteemed realtors have superfluous sense of decoration and artifacts that aren’t even required. This is because, beautiful looking homes yield a better price even at lowe covered area.

  • Vicinity to a City   

The last is an obvious factor but it is often ignored. Having a house closer or inside a city guarantees its chances of selling out at a high price. The more developed the city, the higher the gross value.

So if you’re thinking to make a hefty investment, always look for a home inside the city as it will experience a sharper growth in value and will turn out as a better investment than the outskirts.

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