I hate to Break it to You, But Size DOES Matter!
So what determines value in real estate?
It’s quite simple, LOCATION and SIZE are the most important factors affecting the value of a house or condominium. This is a universal rule in real estate, whether you are in Mississauga, Toronto or New York.
Location and size far outweigh other factors such as upgrades- which many wrongly believe will add a ton of value. Now I’m not saying that making a home look nice will not add value, but it’s not as important as size and location and the reason is quite simple, the harder something is to change, the bigger impact it has on the value of a home.
It’s really hard to change the location or size of a home compared to painting or upgrading the counter top…. right?