How to value a property?

When selling a house or flat, you have to set the price. A lot depends on it. Most owners want to sell not only quickly, but also at a profit. On the other hand, you cannot artificially inflate the value of the unit, because you may have to wait years for a buyer. So how do you set the price of a property so that it satisfies not only you but also the buyer? You will find out in today's article.

Have realistic expectations

Of course, everyone would like to earn as much as possible from selling a property. However, by setting too high an initial price, you may cause many potential buyers to automatically rule your listing out, concluding that they cannot afford it. So before we set the right amount, let us think it over. Let us allow for haggling, but also make sure as many people as possible become interested in the listing. With several potential buyers, demand for the flat rises, and with it its price. In this way we will naturally find the person who is able to pay the most.

What does the price of a property depend on?

When valuing a property, many factors must be taken into account. The basic ones are of course the location and size of the flat. The standard of the unit is just as important. We can ask more for a completely renovated property than for a flat that needs renovating. Other important elements include the floor on which the unit is located, and the absence or presence of a lift, balcony or cellar. The surroundings also matter considerably. A quiet and peaceful area where everything is close by will certainly count in your favour. The opposite is noise, proximity to a busy road, difficult access to the centre or a lack of nearby services and shops. Such elements can lower the price of the flat.

How does our flat compare with others?

To set the price of a flat for sale, it is best to look through listings of similar properties. Let us consider properties of similar floor area, location and standard. On this basis we can get an idea of how to price our unit.

When making the comparison, let us take as many listings as possible into account to create a realistic context. On property portals you can find not only listings from the last few weeks, but also flats that have not sold for several years, which may be caused precisely by too high a price. And we certainly do not want to make the same mistake.

Rely on the opinion of professionals

If you want to sell your flat as quickly as possible, ask an experienced valuer for help; with a practised eye, they will assess how much the property you have to offer may be worth. Thanks to a professional valuation you will know for sure how much you can expect to receive.

It is also worth considering the services of a professional estate agency, which will not only value your unit but also support the whole sales process, from writing the listing and taking the right photos to finding potential buyers and pricing correctly on the basis of current market trends. With an experienced estate agent you will sell your flat quickly and effectively, and you will certainly be happy with the final price.