Property Appreciation? It’s the Lot, Not the House

Property Appreciation

Property AppreciationThere are two sides to every business transaction: that of the seller and the buyer. On the side of the buyer, a real estate’s top feature is the house and all the possibilities that come with it. For the seller, it’s the changes and renovation that transpired. The valuation officer may digress and point to something uncontrolled – the lot where the house sits on.

There is More to Home than the Building

Home buyers love deciding on a property and emphasizing the value of the building and the amenities of living in such a well-designed structure. However, the structure and the condition are just part and parcel of the purchase.

A sound property valuation in Brisbane looks into different factors; aside from the building structure and condition, the location, accessibility, and council restrictions also matter. The research and analysis that goes into gathering all these information are crucial and, by all means, require thorough weighing before placing a property on the market. If so, why then do real estate people always remind buyers to look into “location, location, location?”

The Land as an Appreciating Asset

The land as an asset is permanent, physical, tangible, long-term and fixed. Most importantly, it is continually appreciating. Homebuyers who see themselves morphing into sellers in the future must look into property in the light of investment. With a population that fails to decline each year, the land remains to be a scarce and an unreplenished supply for an ever-growing demand.

The Proximity of the Land to the Economic Epicentre

Another reason location matters more than the design is the neighbourhood. Not the manicured lawn of Mrs. Gilbert or the four-car garage of a rich neighbour, though it has an acute effect. The neighbourhood is taken into a larger context here.

How does a land appreciate faster? Well, how many skyscrapers are built in the area and how many are under construction? How vast is the available vacant space left? Is it near a tourist spot, CBD, major universities or hospitals? In short, is there activity constantly going on?

All these and more explain why the land has got to be the primary consideration in choosing a property to buy or in deciding how to sell it. Finding great valuation service providers will help buyers and sellers put the best price on a property.