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There are a number of factors that can determine house values. Firstly, location is a huge deciding factor in determining the property value for new homes, and as well as, new homes. If there are two identical homes built in different neighborhoods, the home located in the better neighborhood will have a higher house value. Next the condition of the home is also factored into its house value. New homes are generally in ideal conditions so they may be more expensive than older homes.
Lastly, the economy determines how much someone is willing to pay for your home. The more money people have the more they are willing to spend, and vice versa. If you are attempting to get the highest house value for your home make sure that you take all of these factors into consideration. Selling your home during a recession will not guarantee the greatest house value possible. In addition, investing some money into the renovation of your home can potentially net you a greater house value, and essentially a greater profit.