What Makes Your Property Value Increase? 12 Key Factors to Watch

If you own a home or are considering buying or selling a home, you may be wondering what makes property value increase. An increase in property value is called appreciation. Appreciation stems from a collage of factors influencing one another and ultimately coalescing to drive up values and determine how much profit can be made on a sale. In this article, we discuss the factors that cause property values to increase over time and how to obtain a home value estimate. What's your home worth today? Tell us a little bit about your property and get a preliminary estimate of value in as little as two minutes. To provide you with the most expert information, we spoke with Diana Benson, owner and operator of Benson Appraisals in Gilbert, Arizona; Carrie Freeman, a top Seattle agent with more than 21 years of experience; and top agent Victoria Lance, owner of Lance Real Estate Group in Georgia. 1. Location, location, location You’ve heard that location is the biggest factor in home value. But what does this mean? According to Benson, a home (the physical thing we live in) doesn’t actually appreciate in value. In fact, the physical characteristics of a home tend to depreciate as they age. It...