How much is my house worth? Everyone who wants to sell their property has asked themselves this question at least once and the uncertainty about it drives most of us around. Whether due toa work-related moveor a divorce – the reasons for selling a house can be very diverse. The goal is actually always the same: we want it to go as smoothly as possible and we want to achieve the highest possible price for our property. In order to sell for a fair profit, there are some important steps to follow. First and foremost, we should of course have the house value determined. How do you go about it and what can you do to increase the market value? We'll tell you all this and much more below!
ItHouse valueDetermining is undoubtedly one of the most important measures when selling a house. It indicates what market price we could hypothetically achieve. Since the calculations require precise knowledge and are quite complex, it is worth hiring a competent and experienced appraiser or real estate agent. To determine the value of a property, three different variants are used - income value method, comparative value method and material value method.
To determine the property value, the building is...Comparative value methodcompared with similar objects. If there is not enough data available afterwards, you resort to thisTangible value methodback. The property and the land are considered separately and the house value is determined based on the condition of the building structure, furnishings and year of construction.The income value methodhowever, it is mostly used for rented properties. The basis for calculation is the amount of rent achieved. Which calculation method would make sense for you depends on the type of property being valued. Several procedures are often combined with each other.
What factors influence the market value?
In contrast to the house value, the market value refers to the price at which we can actually sell our house. There are many different factors that are of great importance for the determination. However, the list is quite long and extensive and in order not to make things even more complicated, we will focus on the most important ones below. First and foremost, of course, the location plays a crucial role and a distinction is made between micro and macro locations. While the macro location refers to the city or region, the micro location refers to the immediate surroundings and neighborhood. Are there supermarkets and bus stops in the area? Is it a quiet residential area and what is the noise level? Can doctors, pharmacies and restaurants be reached quickly?
In order to determine the house value, the features of the property are of course also assessed. Not only the visual factors such as garden, balcony, cellar, etc. are taken into account, but also the year of construction, the building structure and energy efficiency. Logically, a house that has a large garden and two floors will fetch a higher value than a small city apartment. The condition of the soil and the quality of the building materials used also influence the value of the house. The worse the structural condition, the lower this will be.
Determine and increase your home value: This is how you can do it!
Would you like to determine the value of your house and are wondering whether you can increase it somehow? There are actually several measures that can increase the offer price. For example, small cosmetic repairs and...Plants in the gardenincrease the value. It is also important to eliminate defects and signs of wear that have arisen over time. This includes, for example, removing vermin, repainting the facade and maintaining the heating system. Modernization measures can also help increase the value of the house. Above allrenewable energy sourceshave a positive effect on the energy certificate and have a positive impact. In addition to all of the above factors, the price index and the current local market situation also determine how much a property is actually worth.
