Among the most decisive elements in a real estate sale process, price is naturally a priority – for both the buyer and the seller. In this sense, assessing the value of a house or apartment requires careful reflection, comparison and even anticipation. How to define a price high enough to benefit from the transfer, without hindering buyers? Tips and tricks.
Study the market and find similar properties
Real estate prices differ from city to city, and even from neighbourhood to neighbourhood. To compare similar real estate notices with each other, narrow your search as much as possible to a restricted geographical area (or similar areas).
Then, visualize properties close to yours, both in terms of area and year of construction or overall condition. Try to compare all the properties with each other, to see what can drive the price up or down. Being completely immersed in competing real estate ads, you will logically have a clearer idea of the price you can charge in the hope of selling.
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Mobilize all criteria that influence value
Many characteristics impact the value of the property. This is naturally the case for address and location. Not all cities are as popular, and, within the same municipality, some districts will generate more interest than others. For example, if you live close to all services and public transit, this is clearly an asset. On the other hand, if you sell a more secluded but “quiet” house, it can benefit you in another way. On the other hand, noisy, festive or poorly reputed streets are less popular and generally require a reduction in sales ambitions.
Then, once you have studied the property’s environment, look at its specific characteristics. Every detail can affect the price: a completely refurbished apartment will be worth more than a home on which work must be done. A freshly equipped kitchen will increase the price, while an aging bathroom may decrease it. Other criteria, which have emerged more recently, also deserve to be taken into account: energy consumption, the quality of thermal and sound insulation, but also the Internet connection (fibre connection).
“Every detail can affect the price: a completely refurbished apartment will be worth more than a habitat on which work must be done.”
Knowing how to remain objective
To evaluate the price of your house or apartment, you only need to use objective criteria. At no time is it possible to transfer your emotional ties with this property to the price. This is generally a very difficult process, especially when you have lived there for many years… And you have spent a lot of money, time and energy on its maintenance!
Also, since this work deserves complete and detached reflection, we recommend that you solicit an estimate from a real estate agency. Often free of charge, this approach allows you to get a more precise idea of the price you can afford to impose on your ad. Thereafter, you are free to conclude the sale between private individuals or through an agency. However, keep in mind that for a real estate sale, many administrative constraints are necessary – and the help of an expert is generally not superfluous!