How location and architecture determine property value guide, Home cost tips, House interest rates advice
How Location and Architecture Determine Property Value Advice
18 February 2023
How Location & Architecture Determines a Property’s Value
The value of any given property is informed by a myriad of factors, but a few of them stand out as pivotal. These are the location of the property, and its shape and size. You might pay more for a property in Edinburgh or London than you would for one in the middle of the countryside, even if the values of the two are roughly identical.
In 2023, property prices are expected to fall, in response to rising interest rates. With fewer people able to finance a purchase, demand for housing has slumped, which may push down prices.
The relationship between location and value
So, why is it that properties in some areas are higher than in others? There are several reasons, and it’s worth taking stock of them. There’s the availability of transport links, good schools, and a good community. Then there’s the proximity to things like busy roads.
Why does this matter? Well, if you don’t have any children to send to school, and you don’t have to commute into work, then you might end up paying over the odds if you elect to move to an area which caters to these needs. In this situation, it’s better to look elsewhere.
How to maximise your income from property
People don’t just buy houses to live in them. They might also use them as a source of ‘passive’ income (this being the kind of income which comes in with minimal effort from the person collecting). Being a landlord will allow you to generate equity in the house you’ve bought, and to earn a respectable profit. This applies even if you’re only letting the property out at certain times of year.
For example, you might rent out a holiday home at a prime location in summer, and then use the house for your own purposes for the rest of the year. This is particularly worthwhile for properties in more remote areas. You can find plenty of countryside lodges to buy for rent, and they tend to be a popular investment.
The importance of architecture
While we might understandably place a lot of emphasis on location, the actual shape of the building should matter, too. This means that the contribution of a skilled architect at the design phase is vitally important.
Often, the involvement of a reputable architect can add huge amounts to the overall value of the property – as well as improving quality of life for the people living in it. Remaining true to classic design principles tends to be the safest bet, since what’s on-trend now might risk looking dated (and therefore less appealing to would-be buyers) as time goes by.
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Liberton Brae Townhouses
Design: LBA Architects
image courtesy of architects
Liberton Brae Townhouses
St James Quarter Edinburgh
image of the development
St James Quarter
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