Property value increases never occurs in a vacuum. If you notice your home’s value increasing – or if you have been advised by a real estate broker that it can be expected to – then this will nearly always be because of some external factor, usually related to the local area. Before the many tasks involved in selling a home are carried out, from staging the home properly to taking great listings photographs, selling a home is essentially a matter of getting the timing right. And if you know just what to look out for, there could be indications scattered all over your local area to suggest that the time is very right indeed.
Of course, there is no substitute for the services, advice, and expertise of a high-quality real estate brokerage. Realtors typically combine an in-depth knowledge of (and access to) the local and national property market with a professional appraisal of your home which brings to bear years of experience.
CityHome Collective, a real estate firm out of Salt Lake City, Utah say that ahead of enlisting the services of a realtor, it pays to be vigilant and keep an eye on the local housing market for indications that property prices are rising. Then will come the time to make a prediction about how much prices will increase and for how long to hang on before making that all important sale.
Indications of Property Value Increase
It should be noted here that increasing your home’s value can rely on much more than just the health of the local market. Moreover, there are in fact many things that you yourself can do to give your property the edge. However, the market will ultimately – as it has always done so – set the rules of the game. Here follows the things to look out for which could indicate your property price is set to rise, compliments of CityHome Collective.
The Area is Under Development
What does it mean for an area to be “under development”? First and foremost, it means good news for you if you are planning to sell a property. If you live in an area with an extensive amount of local new-builds and a thriving local business sector, then things could be looking good for your property value. And remember, it is not only the presence of development that bumps up house prices – the promise of future development can also do this.
You Can Extend the House
This factor is found much closer to home, yet it is also one intimately related to the local area. Is there room to expand your property? Do you see other houses in the vicinity expanding? All of this suggests a vibrant local housing market and will reflect favorably upon your home, in turn driving up the price.
Your House (or Local Houses) are In Demand
What about the types of properties found around your neighborhood? Are they typically in demand? While you might think that finding this out requires the house to actually be on the market, you can keep an eye on local For Sale properties, similar to yours, and look up the demand for them online. This will give you a clear indication of your prospects in the market at that time.
If you have read the signs and it looks like your home’s value is on the up, then it is time to bring in the realtor and see how just how much it can be expected to increase by. The chances are that you will be in for a pleasant surprise.