How much will I get when I sell my property?

Most homeowners still know how much their home cost when they bought it. But how much the house is worth now makes many owners uncertain. After all, if you set the price too high, you may not find a buyer. And if you set it too low, you're missing out on money. Or can setting a slightly lower price bring advantages after all?

Setting the right price requires expert knowledge, knowledge of the current situation on the real estate market and a lot of experience. And many local market factors must be taken into account in order to determine the optimum entry price. This is only possible with an expert who deals with local price dynamics on a daily basis.

The valuation of a property is determined by various criteria. The most important include: Location, plot size, proportion of communal areas, living space, type of property, standard of fixtures and fittings, year of construction, renovations and structural alterations carried out, the market situation and special features.

There are three different methods for determining the value of a property, depending on the type of property: the comparative value method, the asset value method and the capitalized earnings value method. The comparative value method is generally used for undeveloped land and condominiums, for which there are usually a number of comparable properties. When selling houses for which there are no comparable properties, the value is determined using the asset value method. The income capitalization approach is used for multi-family houses and commercial properties where the focus is on returns and not on owner-occupation.

Online valuations can also be used to get an initial idea of what the property is worth. Average values and price ranges can be determined here in just a few minutes. But be careful: the average values can deviate considerably from the actual value of your own property. This is because it is subjective whether a property is of high quality or "normal". For this reason, there is no substitute for an on-site valuation of the property by a local market expert.

Photo: AndreyPopov