You’re investing in a property? There are several things that determine the selling price of the property you need to know.
Buying a property requires more skills and knowledge compared to buying other products. Therein lies the art and uniqueness in the purchase of a property. The following are three factors that determine the selling price of a property:
1. Property location
Some people believe that the Feng Shui location of a property is a crucial factor that determines the selling price of a property. The selling price of a property in a strategic place, say in the middle of the city, would be very different if compared to the price of a property in the township. Elite residential area would be very much expensive compared to common residential areas.
But a crowded place is not necessarily a standard measurement for those who believe in Feng Shui (the science of the natural balance of art and aesthetics). It could be a very strategic place according to the usual plain, but for those who believe in Feng Shui, it can mean otherwise. So whether a certain location is strategic or not can be interpreted differently, depending on the plan or usefulness of the property. Suppose you want to buy land for villa or a resort or a place to relax after a week of activity, a crowded and noisy place is definitely not suitable for you to buy. Instead, you will need a beautiful and peaceful area which is far from the city.
2. Property condition
A second factor that may affect the price of property is the condition of the property building. If you want to buy a home, the one which is beautiful certainly would be worth more expensive when compared to an outdated home.
3. Legality of property
Property which legality is clear and not included in a disputed area will certainly have a quite good price compared to land which legality is still not clear. Certificated land is the one which dominates the legality of land.
So, those are the three factors that affect the selling price of the property. Always consider those three things when investing in property.
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