Top Things to Live Near that Affect Home Values

Your home is your sanctuary, the one place you probably spend most of your time to rest and relax. However, it’s also the place where a large sum of your money is invested, thus it’s only natural that you’d want to ensure it’s surrounded by conveniences and elements that would routinely drive up the value of your home.

In general, property prices tend to appreciate steadily each year, only with some exceptional cases that might cause a certain property to depreciate. However, did you know certain accompaniments in close proximity to a neighbourhood or development can positively affect the value of homes?

Public Transport

Probably the most well-known value-booster of home price and most notably in Malaysia are the LRT and commuter train systems. For young adults who are looking to rent without much disposable income for their own car, this is often a key factor that they look for.

Conversely, home values tend to appreciate slowly or even marginally in areas where public transport, even taxi services are not readily available.

Educational Institutes

Homes situated near top-rated schools in the country are highly sought by young families; this includes international, private and some vernacular schools as well.

Parents, who can afford slightly higher housing price tags, wouldn’t mind paying more to secure a property in close proximity to such schools to avoid long, daily commutes.

Retail Centres

Retail centres are one of the top priority location factors when investing in a home. In some city areas with more than one shopping mall, home prices can increase dramatically in a course of just 1 year. Retail centres provide convenient amenities for grocery shopping, food and even just hanging out on weekends.

Office Building and Commercial Centres

Commercial properties positively affect the rental value of residential areas in the vicinity. It can be attributed to young, single employees who place importance on proximity to the workplace as well as flexibility to move with the job.

Moreover, modern commercial centres also house both moderate and upscale restaurants to cater to the working crowd but also to residents of the surrounding areas. Such eateries improve the attractiveness level of some neighbourhoods and townships thereby drawing in better value.