Owning a real estate property is probably one of the best decisions you have ever made. From its tangible features, immediate use, and stability as an investment, what more could you possibly ask for? As you may have always heard about real estate, its value is continuously rising along with time. But did you know that there are certain factors that affect your home’s value? We’ve listed here some of the things that can increase the value of your home.
Income opportunities in real estate
Real estate is unwaveringly one of the most stable investments, still. Due to the income opportunities present in owning one, real estate investing is still something most people dream of. There are several ways you can do to make money out of real estate properties. Well-known is rental income, which can be added into one of the income streams you should try to build.
However, these ways to boost income through real estate would also depend on what type of real estate you’re getting as an investment too. So it is also important to know the different types of real estate before investing in them.
What can increase your Home’s Value?
Then again, value appreciation is one of the greatest pros in real estate investing, but they do not come simply. Here are the things that affect your home’s value:
1. Real estate developer
Properties developed by a well-known and trusted brand offers high-quality, best-valued homes. Which, of course, also comes at a reasonable price. However, the developer’s reputation is something that homeowners, or real estate investors probably fight for. Such properties sold by reputable real estate developers also offer a higher resale value.
A trusted brand has a reputation to uphold and maintain. This will ensure that the property or development you get from them is quality-made and well-maintained. That’s why you should also lookout for the developer of the real estate property you’re planning to buy or you already own.
Location, location, location. Location is one of the top considerations of property investors and homeowners. This is because residential and commercial properties usually sell at a higher price when they are situated in a very strategic location that offers accessibility.
People’s point of view in buying a house other than the ones in their province is the location and ease of living or doing business in such place, right? So getting a property strategically placed in a city or province is key to good value appreciation. There are also what we call top residential locations in the Philippines which are hotspots for real estate investors and property owners. Buying a home in such a place could ensure a steady increase in your home’s value for the long term.
3. Key Infrastructures
Infrastructure projects highly affect real estate properties for the better. They are known to drive the value of real estate higher which could also be a determining factor that could increase your home’s value. Why? Because developed infrastructure projects pose new opportunities and accessibility in some areas.
In short, when infrastructure is present or made in a province, it allows business and tourism to reach the place. These things open opportunities for the locals and make the place richer. Infrastructure developments are also known as the lifeblood of the economy because of the opportunity it brings.
4. Economic Growth
Economic growth is a factor really important in getting a home’s value increased. The more fruitful the economy of a certain location the more possibility of value appreciation in real estate.
This is because of the number of people that would flock to the place. Economic growth means businesses opening up, tourism, and employment opportunities. The more a place can offer these things, the more economic growth is predicted.
A healthy economy in a place will drive demand for real estate higher especially for commercial and residential properties. This can cause an increase in your real estate property and home’s value as well.
The community where you’re living is also a factor in whether it will increase or decrease your home’s value. Everyone wants to live in a place that offers safe and sustainable communities. Especially in this time of the pandemic where demands and expectations for ideal homes have changed.
People are now looking forward to more open spaces and pandemic-proofed homes and communities. On the other hand, there are developers who offer future-proof homes complete with amenities that will satisfy the homeowners’ needs.
Bria Homes, one of the best-value real estate housing providers in the Philippines prioritizes these kinds of things by offering sustainable communities in its projects. They are composed of amenities that will support your well-being and even up to eco-friendly neighborhood that aims to reduce carbon footprints.
6. Future Developments
Future developments planned near your home or property are also known to drive real estate value higher. As long as these planned future developments comprise things that will boost the economic status of the location, a continuous increase in your home’s value is guaranteed.
Future developments include hospitals, malls, schools, and community centers. If you hear about these things being planned to be developed in the next few years or so, well, lucky you!
And if you’re looking for locations in the province to settle down in, might as well put future developments part of your considerations too. Future developments along with key infrastructures sort of have the same goal, make the economy flourish.
Overall, these factors are one of the key considerations that drive an increase in your home’s value. If you don’t have a plan on purchasing a new home soon, fear not! Having your own home is already a security on its own.
Affordable House and Lot for Sale
Bria Homes offers affordable house and lots situated in key-locations and nearby infrastructure projects. They have also already ventured into condominium developments to cater to millennials and new demands in real estate developments. These communities built by Bria offers safe communities and amenities that are sure to give your necessities within your reach.