Factors Affecting Property Values: Beyond the Obvious

When it comes to increasing property values, certain features like a remodelled bathroom or a desirable neighbourhood are well-known. However, some additional factors and circumstances can influence property values in ways you may not have considered. In this article, we will explore some of these often-overlooked elements and their impact on property valuation.

1. Neighbours and Surroundings: The appeal of a neighbourhood extends beyond your property’s boundaries. Your neighbours’ home decorations and maintenance practices can affect the perceived value of your property. Undesirable neighbouring homes may potentially devalue properties in the vicinity. It’s crucial to consider the overall ambience of your neighbourhood when assessing property values.
2. Proximity to Trendy Shops and Groceries: Recent global statistics reveal that homes located within a short walk of popular grocery stores such as Pick n Pay or convenient small-scale stores like 24 Seven tend to appreciate faster than the national average. The presence of trendy shops and well-stocked groceries nearby can positively impact property values.
3. Mature Trees: The beauty and presence of mature trees on a property can significantly enhance its value. A large, well-established tree in the front yard is a coveted feature that cannot be easily replicated. Homes surrounded by neighbourhoods with abundant mature trees often command higher values due to their natural appeal and enhanced aesthetics.
4. Parking Availability: While parking may not be a significant concern in suburban or rural areas, it can be a significant issue in dense urban environments. Residents of such areas often face parking challenges, leading some homeowners to rent parking spots just to secure a place for their vehicles overnight. Properties with guaranteed and secure parking options in urban settings tend to have higher value due to the convenience they offer.
5. The Front Entrance: First impressions matter, and potential home buyers often make snap judgments within seconds of stepping through the front door. An appealing front door, a welcoming entryway, and a functional doorbell are essential elements that contribute to a positive first impression. These factors play a pivotal role in attracting buyers and achieving top-selling prices.
6. Proximity to School Facilities: For many home buyers, the proximity of school facilities is a top priority. Families seek neighbourhoods where schools are conveniently located, minimizing time spent in traffic when dropping off or picking up their children. Homes situated near school facilities tend to hold higher appeal and are more likely to command premium prices.
7. Security and Perceived Crime Rate: Security is a paramount concern for everyone. The perceived crime rate in a neighbourhood significantly impacts property values. Homes in safer areas with lower crime rates tend to be more attractive to buyers and are perceived as having higher value. The presence of a nearby police post can serve as an indicator of security, but buyers often rely on information from neighbours regarding thefts and security concerns.

When considering a property purchase, it is crucial to critically evaluate these often overlooked factors that can influence property values. By understanding the impact of neighbours, nearby amenities, natural surroundings, parking options, the front entrance, school facilities, and security, you can make informed decisions. Additionally, feel free to add your recommendations to this list, tailoring it to your specific requirements and preferences.