All of us want only the best when it comes to owning land or a home, and your potential buyers, depending on who you target, will have multiple factors in mind. It can get overwhelming but don’t worry.

Follow our step-by-step guide to understand the factors that may affect the valuation of your property.

Type of buyer

The first move is to determine who you would like to sell to. Families will have a different set of requirements compared to commercial buyers. On the other hand, it’s worthwhile to consider who your property will be best suited for so that you don’t have to make too many changes.

 

Location

While the importance of location is a given, there are deeper factors that demand close consideration. For example, houses situated on the main road might be very attractive but the ones that are located further away might be more preferred because of reduced noise levels and greenery.

For families with young or school-going children, this can be a blessing whereas commercial buyers can find this slightly problematic. They would want to be easily found and a house tucked away in a corner in a quiet neighbourhood might not be ideal.

The neighbours at location also make a big difference to the valuation. For families with children, having similar neighbours is critical as it helps their children form new friends and playmates. But your property is highly valuable if someone is buying it to be converted to a guest house if it’s located near busy cafes and bars, which families will avoid.

Transport

Transportation is, no doubt, crucial and in many cases can make or break deals. For working professionals who are just starting in their career or are saving up for other investments, your property can hold great appeal if it is well-connected to public transport. The more connected it is to multiple modes, the higher the value. Owning a vehicle can be extremely expensive in the long run and having public transport services at your doorstep can be a highly attractive factor.

It can double in value quite soon too if there is a potential for future services to come up. Is a new Metro line in the works near your home? Is a new bus route covering your location going to be introduced? All these factors add up in your favour.