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hi this is Anita from Real Estate crunch
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today we're going to talk a little bit
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about what drives property appreciation
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or what makes a property go up in value
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I mean this is a question a lot of
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people ask as to how do I know if I'm
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going to buy this property it's going to
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go up in value what are some of the
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things that I should be looking at we're
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going to look at 10 major reasons why a
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property would appreciate in value one
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would be location as we've said many
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times before in real estate it's
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location it's you know properties in a
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desirable location tend to appreciate
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value you know some of the things which
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could you know make it if it's at you
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know they're close to a good school they
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a park or Recreational facility they
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have access to restaurant shopping
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centers cultural attractions um Scenic
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views Waterfront access
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and other you know natural features
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could all be reasons why a property
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would go up in value simple Supply and
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de demand Dynamics you know if there is
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not much Supply but there's a high
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demand that of course will make the
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property go up in value economic growth
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if your property is in an area which is
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economically growing uh businesses are
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thriving there's plenty of people want
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to move in that of course will also
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drive up the price of the property
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population growth if the population is
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growing and there is um you know people
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moving in that of course will mean that
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your property value will go up if you
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see that there's an area where they're
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developing an infrastructure the
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government is developing in lots of you
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know infrastructure projects maybe for
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example they build a new train out to an
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area that commuters can get into the
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city much faster that of course could
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drive up property to that area things as
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you know having property improvements
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and upgrades they can help you know some
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high impact upgrades could be things
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like kitchen and bathrooms you know
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Energy Efficiency such as solar panels
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smart home systems um you know curb
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appeal Landscaping exterior Renovations
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can all be things which can make a
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property be more appealing there can be
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um you know neighborhood development
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going on new businesses coming in
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restaurants Boutique shop maybe the area
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was down the neighborhood is down but
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they're revitalizing it there's you know
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there's new life happening life is being
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bre in you know breathed into the
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community that can all Drive the
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property up there's quality of schools
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schools are really great schools so
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people want to move there they want
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their kids to go to school there even if
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you don't have children in school as we
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said before schools are something you
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should always look at and see what is
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the quality of the school in the area
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where I'm at is it a highly rated school
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is is it are do people want to live in
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this area because the schools are
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considered safe and good you of course
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is the area safe that's also one too
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security market conditions and interest
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interest rates can make a difference too
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if the interest rates are high people
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don't want to buy local zoning and
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development regulations can make a
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difference the if it's restrictive
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zoning that preserves a character of a
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neighborhood this can make it more
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desirable if you know you're kind of in
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a area where there zoning is not there
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it can make it undesirable I saw
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recently in a newspaper about an area in
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uh Britain where the neighbors went
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after a guy who was using his front yard
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as a garbage dump somehow his brother
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owned a garbage dump company so they
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were dumping garbage in the front yard I
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don't know if his brother was paying him
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whatever was going on but the neighbors
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were complaining because there were rats
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and basically the neighborhood you know
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spent years and years fighting this
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because it would drive their property
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down I've known of other people who had
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very junky you know front yards where
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the city's gone after them and said look
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you need to clean up your yards because
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this is driving other people's property
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value down so also the surrounding areas
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of the property or if the government
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doesn't care if they allow garbage dumps
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to happen next door to you or you know
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people's you know yard to be junky and
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they don't care then that of course
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could drive down property value too so
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those are all things which you know can
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make a difference on whether or not a
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property can appreciate or not and you
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know the truth of the matter is you
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could have a property in one area and
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you go two streets over and the property
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may not appreciate as it does in the
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other area so that's why you really need
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to look at all of these things when you
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are looking to understand property and
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understand what drives the appreciation
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of a property this is Anita from Real
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Estate crunch thank you so much for
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listening we really appreciate you
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listening to us if you have any
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questions we'd love to hear from you
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we're going to put a link to our blog
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post which is on understanding property
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value Trends what drives appreciation in
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case you're interesting to be able to
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learn more and to be able to read some
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more information on this thank you so
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much for being part of our community we
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certainly do appreciate you
