House Valuation – Brisbane
When trying to determine a house’s value, it is important to look at the actual style of the house itself, and the neighbourhood in which it stands. Is the house a condominium? A townhouse? Is it detached? Is the neighbourhood well kept, or run down? Are there many families around? Do most of the residents rent or own their home? Getting a clear indication of a house’s value involves looking at a lot of things, and taking many things into consideration. The first place that you have to look however, is at the house itself.
The style of a home, be it apartment style condominium, townhouse, or detached family home will be one of the biggest factors in determining the house’s value. Detached homes are worth more not only because they are generally bigger, but because (generally) the owner of the house owns the land that it sits on as well. While this is not always the case, more times than not if you own the detached home, you own the lot. Apartment style condominiums, and townhouses are extremely popular, especially in densely populated areas such as Brisbane. That said, without the ideal location of being right in the heart of the city, these styles of residence generally have a lower house value than detached homes.
The difference exists for a few reasons, one of them being space. In an apartment style condominium or townhouse, you do not have the yard, or privacy that you are able to achieve with a detached home. These two factors are huge selling points, and really do impact the value of a house.
Another reason that detached homes tend to have a higher house value is that, and this was touched on earlier, generally the homeowner owns the land that the house is on. Owning the actually land is HUGE, and will always increase the value of the house greatly.
Keep in mind that it is not just the style of the home that is important when figuring out the home’s value, it is also the state that it is kept in, any renovations that have been done, and how well any original charm or character have been maintained.
In addition to the house itself, the exact neighbourhood that the house is located in will make a tremendous impact on the house’s’ value.
The city of Brisbane is a metropolitan that is made up of over 400 suburbs. All of these neighbourhoods are unique, and have their own characteristics. While the location of the neighbourhood will impact the value of homes there, specifics about the neighbourhood will also impact the house’s value, in some cases more so than the fact that they are located in within the metropolitan.
If the house is located on a street filled with renters as opposed to homeowners, or many of the houses are not well maintained, or if the street is extremely busy and not at all child friendly, the house’s’ value is going to decrease. People want to move to the best neighbourhood for them and their families. If there is a lot of crime, and vandalism, or other illegal activity going on, the value of your home is going to greatly decrease. While not every house is going to be situated on a quiet, tree lined street, with a white picket fence, people want to feel safe, and know that houses and property in the area are properly cared for and maintained.