Property Features That Affect the Price of Real Estate

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Identifying Real Estate Risks After having a difficult time financially for quite some time, I realized that part of my problem was my personal housing costs. I really began evaluating what I wanted out of a home, and I realized that I needed to shop for a place that would work better for what I needed. I started paying more and more attention to real estate risks, and it occurred to me that I hadn't invested in a smart property. After talking with my real estate agent, I started focusing on changing my ways, and it was incredible to see how much brighter my future became.

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If you're looking for the right house on the right property, you likely also are working to find the best possible real estate for your budget. House quality can vary greatly, but there are also land features that can drive up the price of a house. Take a look at some common features that make a piece of land more desirable, and therefore more expensive, even when the house that is built on that property might not be as special. 

1. Proximity to water

You know that property right on the beach is more expensive, but what if you're buying in a city or town that has no real water bodies? The same principle still holds true. Developments install man-made ponds as a way to make the community attractive, and houses that back onto these small water features will have a higher price tag. The house will be the same, but the property the house is built on is worth just a little more because it is "waterfront property." The same holds true for houses that are close to rivers, ponds, and small creeks. 

2. Views

Views are the one thing that nobody can create for you. The elevation and location of a property allows you to see a beautiful field, a lovely skyline, miles of mountains, or a green forest. Properties with views will always be worth more than properties that are simply average in their beauty. It's also a bonus if your home takes advantage of the views with large windows.

3. Accessible services

"Location, location, location" is often the mantra in the real estate industry. People want a specific neighborhood or to be close to certain schools or stores. Location does drive up property prices, but so can basic accessibility. For example, if a property is close to a bus line, the property might appraise slightly higher than one that is even just a block or two further away. If the property is convenient to interstates, highways, or other roads that make commuting more simple, that's another bonus you'll see reflected in the price. 

4. Trees and landscaping

Finally, the quality of the property matters. A flat, muddy plot with no landscaping will cost less than a plot that has beautiful trees and an established landscape. Landscaping is an investment, and the presence of large trees means privacy, shade, and curb appeal, which are all more desirable over a blank slate plot. 

For more information about real estate for sale near you, contact a local real estate agent.

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