How to correctly assess the value of your property

Selling a property is not a difficult process and it is quite possible to manage without the help of a real estate agent or agency. The most important thing is to take a sensible approach and put a realistic price on your home.

Good market research and benchmarking.

You need to strive to know the market and what it offers. Keep in mind that prices are not quite actual. It is common for compromises and price concessions to be made as part of the sales process.

The real estate market has a lot of influence when it comes to getting the price right.

The criteria to guide you when making an appraisal are:

Square footage- when you are estimating the market value of your home, size is one of the most important elements. The square footage of the home will give you the average price per square foot. Bedrooms and bathrooms are the most highly valued, so the larger they are, the more your home is worth.

Location.

When pricing a property based on its location, consider key indicators such as schools, retail outlets, shops, public transport, parks and polyclinics.

Year built.

Generally, newer homes are valued highly because the materials are newer and of higher quality.

Floor.

This is also a factor that is taken into consideration as usually ground, first and top floor apartments are rarely sought after. For this reason they are low priced. The exception is top floor flats that overlook a beautiful view, which automatically raises the price.

Type of construction.

A property in a new build or an older building directly influences as many HoAs prefer modern construction due to the high quality.Brick buildings are better priced than panel blocks.

Condition of common areas.

Maintenance affects the value of the property but has a slight burden as there is the possibility of changes in a future plan.

Lack of an elevator.

This is a determining factor in the price of a home, and keep in mind that if the unit is on a floor higher than the third floor, and there is no elevator, the sales price should be lower.

Abundance of parking spaces and garages.

In the event that there is a garage attached to the property  or a parking space  shall be considered as separate objects having independent value.

Additional amenities.

The presence of a swimming pool or garden increases the value of the home.