House Value – Launceston
When trying to determine a house’s value, it is important to look at the actual style of the home itself, and the neighbourhood that it is located in. Is the house a condominium? A semi-detached home? A townhouse? Is it detached? Is the neighbourhood well kept, or does it need some TLC? What is the crime rate like? Are there many families around? Do most of the residents rent or own their home? By gaining a clear indication of the house it and the neighbourhood that it is located in, you are able to get a better idea of what the house’s actual value is. In order to do this however, there are several factors that you need to take into consideration:
The style of a home, whether it is an apartment style condominium, townhouse, a semi-detached home or detached house 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 the case 100% of the time, it tends to be more than not. Generally the same can be said for semi-detached too, however you share a wall with your neighbor. Apartment style condominiums, and townhouses are extremely popular, especially in densely populated areas such as Launceston. 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 generally do not have large yard, or the privacy that you are able to achieve with a detached home. These two factors are huge selling points, greatly impact the houses value.
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 something that a lot of homeowners will not give up, and will always increase the houses value.
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 Launceston is a city that is home to over 74,000 people, some of whom live in the downtown core, while many others live in the suburbs further out. Regardless of whether you live in Launceston or area of the city that you live in, if you do not take care of your home, or if you live in a community that is known for being more rundown, and is not popular among homeowners, your houses value is going to decrease. This can be frustrating to some people who bought their homes without really knowing a lot about the neighbourhood, or if the neighbourhood has undergone some drastic changes since the house was purchased. If you are not sure what to do about living in what many might consider a less than ideal neighbourhood, the reality is that there is not that much that you can do to change it. What you can do however is take care of your property, and speak to your city council about possibly having any graffiti or damage that has been done to areas like parks in your community repaired.