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How Home Address Affects Your Property's Market Value

17 March 2023
How Home Address Affects Your Propertys Market Value

Various things are needed to be considered when choosing a home, but the location is one of the most important factors monitored by appraisers and investors when determining a property's worth. Specifically, there are key indications that affect a home's value. Real estate prices in certain areas will be higher than average due to the aforementioned variables while in others they will be lower.

 

It's been stated that "location, location, location" is the three most important factors and the holy trinity of real estate investing. Yet, many homebuyers focus more on the home itself than the neighborhood when making a selection. Now, the question would be, are you aware of the reasons why location is crucial? It is for the simple reason that a home's condition might change over time, but its location will remain constant, even in Google Maps.

 

 

Why is Location of A House Important for Property Values?

Choosing a place to call home is one of the most consequential choices any of us will make. The location of your property is the single most important factor in determining its practicality and resale value. House and lot in the Philippines in a desirable neighborhoods often sell more quickly and for a higher price than comparable properties located in less desirable regions.

 

Several factors that impact a home investment's worth are tied directly or indirectly to its location. Important consideration like school availability, travel hours, and social possibilities all contribute to one's quality of life. A great house isn't worth compromising location for. All things considered, it is generally preferable to increase your housing budget in order to locate a house in a more desirable area.

 

 

Home Address Factors Affecting Your Property Value

Appraisers and investors rely heavily on a property's location when determining your home investment worth. There are several indicators that affect housing prices. Due to these reasons, housing prices in certain areas might be much higher than in others.

 

 

1. Convenient access to major roads and highways

A person's way of life is heavily influenced by their level of accessibility. While looking for a house, it might be helpful if it is close to main roads and highways. Living in close proximity to these infrastructures will reduce the amount of time spent getting where you need to go.

 

The value of well-maintained roads cannot be overstated. It aids in maintaining links to major cities, and facilitating travel to and from various locations. Furthermore, investments in road infrastructure have been shown to significantly improve overall road safety. It aids individuals by making it easier for them to go to places like work, school, shops, and fun activities, which all contribute to the economic progress of the area.

 

Best Home Address: Lumina Tarlac in Brgy. Maliwalo, Tarlac, Tarlac City. This affordable house and lot are only a few minutes away from MacArthur Highway, SCTEX, and TPLEX.

 

 

2. Availability of public transportation

In order to sustain a higher quality and standard of life, communities need access to vital services that will ensure the upkeep of physical and mental health, employment opportunities, social and leisure activities or it will have a negative impact on one's life. Public transport paves the way for mobility—particularly for those who don’t have their own cars.

 

Thus, the convenience of a home's address and location is a major component in determining its market value. Having convenient access to public transit expands your options. Furthermore, having available public transport 24/7 allows you to increase your standard of living. Employment possibilities may be found in places other than your immediate area.

 

Best Home Address: Lumina Sorsogon in Brgy. Macabog, Sorsogon City, Sorsogon. 24/7 public transportation is available in this community with the Sorsogon City Bus Terminal and the Sorsogon Jeepney Terminal nearby.

 

 

3. Several employment and business opportunities

Having access to employment and business prospects is a boon to any address, but it is especially beneficial to homes. As the number of local companies grows, so does the number of available employment opportunities. This means locals won't have to go much out of their way to maintain a comfortable standard of living from their work address.

 

More individuals will move to areas with better job prospects, driving up housing prices in the meanwhile. This is good news for landlords who want to rent out their houses or apartments to the aforementioned employees.

 

In addition, the availability of a wider variety of shops and new services deliver and increase the desirability of a general location. Addresses in close proximity to commercial and business centers in cities are a clear indicator of this trend. As a result, the demand for, and the cost of, real estate in these areas is on the rise. More investment and jobs for locals would result from a thriving business community.

 

Best Home Address: Lumina Binangonan in Brgy. Bilibiran, Binangonan, Rizal. This affordable housing community in a small town is only 37 km away from Metro Manila, giving you the prime conveniences and opportunities you need.

 

 

4. Quality of local communities

Your neighborhood is a major factor in determining the value of your house. Locational and age-appropriate factors such as population growth, schools, hospitals, places of worship, places of business, retail enterprises, and entertainment venues all have a role in determining a home's market value. Neighborhood enhancements like parks, restaurants, shops, and clubhouses all contribute to the quality of life and therefore, the value of the homes in the area.

 

The closer a residence is to these places of business, the more desirable it is seen as a whole. Non-personalized content in your lifestyle can have a negative impact on your lifestyle which is why there has often been a correlation between strong community centers as well as quick growth and development in a given area. Even if you don't reside smack dab in the middle of the action, you may still reap the benefits; you simply need to be near and well-connected to the major centers of commerce and culture as well as tourism hubs for higher home value.

 

Best Home Address: Lumina Malaybalay in Barangay Casisang Diversion Road, Malaybalay City, Bukidnon. With less than 10 minutes travel time from the city's public market and the highway, this entire neighborhood has great proximity to government offices as well as the various new schools, colleges, and university in the area.

 

 

5. The finest developers in the area

The most trusted name in homebuilding in the Philippines, Lumina Homes, has been in the business for over 10 years, so it comes as no surprise that their affordable house and lot for sale provide excellent value.

More than simply building houses, Lumina Homes is committed to fostering neighborhoods that help Filipinos go ahead and have better lives at home. Homeowners may be certain that their initial investment will be repaid thanks to Lumina Homes' continued presence in its over 50 communities nationwide.

 

In an affordable to average home values, you can now secure your near future by investing in a new house from Lumina Homes. We don't only provide a good neighborhood but also a great location that is near the school district and good schools, grocery stores, landmarks, worship and leisure places in our over 50 projects nationwide!

 

Check out our other high-value yet affordable communities all over the country and start your smart investment now!

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