What affects the price of a flat?

When deciding to buy a property of our own, we consider, among other things, how much we will pay for it. It turns out, however, that few people know what affects the price of a flat. This knowledge will certainly be useful when negotiating with the seller. We list the most important variables to bear in mind.

Location has a major influence on the price of a flat

The part of the city in which the home we are interested in is located fundamentally affects its value. It is enough to look at the Warsaw property market, the most recognisable in this respect. In the city centre the average price per square metre is over 12 thousand PLN, while in Żoliborz it is almost 2,000 PLN less. The situation is similar in other Polish cities such as Bytom or Tychy, where property prices in individual districts can differ significantly. Besides the district in which a given flat is located, its surroundings are just as important. What affects the price of a flat? First of all, the proximity of parks, schools, shops or cultural institutions such as cinemas, theatres or museums. Specialists have been repeating for years how important the location of a flat is. They stress that these trends do not change over time. They add that the final outcome of sales negotiations depends on both parties to the transaction.

The flat's floor plan – first impressions matter

For a future buyer, it is important how the individual rooms have been laid out. Whether such a layout suits the buyer is often of fundamental importance. Few people want to carry out a major renovation to rearrange the rooms straight after buying. Let us add that a badly planned flat – even one much cheaper than the rest – may attract no interest from potential buyers. Some shortcomings simply cannot be removed and can effectively put people off buying.

Type of building and its standard

A practical layout is an extremely important factor affecting the price of a flat, but the appearance of the building in which the flat is located is just as important. The newer the building, the better the technology and quality of workmanship. These affect energy efficiency, which in turn plays an important role over the years of use. Let us add that in recent times, flats in old, historic but restored tenement houses have gained in value. These buildings have a unique, distinctive character and are generally located in city centres, which is why they are considerably more expensive than blocks of flats built from large prefabricated panels.

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Interior design, fashion and the value of the property

It often happens that a flat is sold together with furniture and other interior fittings. This has a major effect on its final price. Fashionable accessories designed by well-known decorators and bought in expensive shops will certainly show up in the final reckoning. That is why, when looking through the photo gallery of a given flat, it is worth considering whether such decor suits us. Sometimes it is better to take care of the interior finishing yourself – you can save quite a lot this way. Let us also add that fashion for a given type of home matters a great deal. If we follow prevailing trends, we must be aware that we will certainly pay more.

There are many factors affecting the price of a flat. It is worth remembering all of them in order to make the right decision. We can also leave the task of choosing a home to the specialists at the Katowice estate agency REMAX Gold. They are on hand with advice and will help you make the right purchasing decision.