What criteria are taken into account when valuing a property?

When you decide to sell a property, an appraisal is an essential step. It allows you to be sure of the value of the property in order to reinvest later. Several criteria come into play in the valuation process and it is important to know them. These criteria are related to the environment, the property and the property market. What are these criteria?

The location of the property

The estimation of your property can be done in several ways, the simplest of which is to use an estimation tool. For this, go to https://realadvisor.co.uk/en. The first criterion for a successful property valuation is the location of the property. Indeed, when the flat is in the city center, its cost will be very different from a flat in the countryside. The activities in the vicinity of your flat will also determine the value of the property. These include schools, green areas, shops and public transport. When the immediate environment of your property offers various services and the quality of life is high, demand is high. This has an impact on the value of the property.

The characteristics of the property

The characteristics of the property also come into play in the valuation of your property. They include the type of property, the surface area, the quality of the property and its condition in general. For example, if work has recently been carried out, this will have an impact on the price of the property. On the other hand, if several renovation works are necessary, the price of the property must decrease to allow the buyer to carry out these works. Furthermore, the quality of the property includes the materials used, the exposure, the year of construction, the DPE, etc. The energy performance diagnosis (DPE) provides information on the energy balance. If this assessment is good, it can increase the sale price.

The property market

The selling price to be set varies according to the property market in your commune. It is necessary to compare the proposed price with the values of similar properties (in terms of configuration and neighborhood) sold recently. This will allow you to adjust the price of your property if necessary.