This
article is written in view of those into buying and selling of property. Sometimes,
you may find yourself at a crossroad whether to buy a house or land to resell
later and make your gains.
WHY THE VALUE OF A BUILDING MIGHT DROP
1.
The building may be built with
substandard material and this will affect the price of the property.
2.
Buildings require constant maintenance
to be in good shape, otherwise it wears out
3.
Modern designs of buildings, artwork,
etc. enters the market regularly, thereby rendering the existing one obsolete. This
too, affects the price of the property
4.
When erosion eventually settles in that
area, the perceived value of the building drops
5.
The house or building may not suite the
taste of the buyer, hence the price is dragged down.
In view of the
foregoing, buildings do not appreciate fast because of the factors above. On the
other hand, lands do not have such issues except factor number four considered
above, although this may not necessarily affect the price of the land
especially if it in ideal location.
THE BOTTOM LINE
A building hardly
doubles its real value but a land does. Therefore, it is absolutely necessary
to think deeply before taking a plunge into investment. Did you enjoy this
article? Please, drop your comment below. Call +2347031384722 or visit www.facebook.com/propertytycoons
to view listed properties for sale.
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