What is My House Worth? – Wollongong

When people ask, “What is my house worth?” a lot of the time they ask without really realizing how many factors go in to answering that question. One factor that many people do not think about that impacts what a house is worth is the climate of the city that it is located in.  The local climate makes an impact of what a house is worth because it is often overlooked unless it is an extreme, is something that cannot be changed, if you buy that house, it is located there, and therefore will be experiencing whatever weather that area gets.

The city of Wollongong for example experiencing an oceanic climate, and averages temperatures from 17 °C in winter to 26 °C in summer. With this climate, Wollongong also tends to experience flooding, hail, and thunderstorms at various points throughout the year.  The weather that Wollongong experiences does not generally bring any major or dangerous problems, however the city has experienced intense flooding. On August 8, 1998 Wollongong recorded 316mm of rainfall within about a 3 hour timeframe. Fortunately, for residents of Wollongong who are concerned about what their house is worth, the overall climate is attractive to many people, and has become a selling feature. Generally climate becomes more of an issue in terms of what a house is worth, when it is a dangerous or difficult area to live in. For examples houses in areas that experience dangerously low or high temperatures, or areas that are hit by tropical storms or hurricanes tend to get lower answers to the question of, “What is my house worth?” This is because while obviously people move to those areas for specific reasons, there is not a demand for real estate in many of those locations like there is in areas that consist of and enjoyable and safe climate such as Wollongong.

When you are looking to put your home on the market it can be difficult to know what factors will impact what your house is worth. One way of knowing what factors influence what your house is worth is to think about what factors impact the quality of life that you live, both in our home itself, and the city in which you live. The climate of a city plays a bigger factor that many think in that an enjoyable climate such as the tourism industry, the sporting and cultural events that are held there, and the demographics that the city is made up of. Fortunately, for the city of Wollongong, the oceanic climate that it experiences benefits all of these things, with the exception of heavy rainfall at various points throughout the year, the weather overall is quite enjoyable, averaging around 17 °C in the winter. It is because of this that what houses are worth in Wollongong have been able to reflect the enjoyable weather, and the benefits that it brings to Wollongong.

Real estate is a huge investment, for many people it is the largest financial investment they will ever make, so it makes sense to be aware of all of the factors that will impact its value, prior to purchasing the property. In Wollongong, what houses are worth has been on the rise, and steady partially because of the great weather that residents and tourists are able to experience all year long. This weather has helped to make the city of Wollongong a major tourist destination, and one that has experienced quite an increase in demand for real estate opportunities. What houses are worth vary, and depend on various things, however, as far as the climate and the overall weather patterns that this area experiences, the area of Wollongong is desirable.



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