Very often circumstances arise in a person’s life that force him to make transactions with his own apartment. For example, when he moves to another city or intends to take a loan. Often there is a desire to exchange residential apartments for more spacious ones. In this regard, the problem of assessing the real value of the property. Many people ask the following question: “Is it possible to independently determine how much to sell my mansions in order not to lose money”? However, it is better not to experiment and use the services of professionals.
The seller of the apartment has a choice
Alas, few people know how to evaluate the cost of an apartment, in which cases you can not do without outside help. In any case, no one wants to cheapen housing, and, of course, practically no one has the opportunity to wait for years for a “good” buyer. That is why you always need to offer a real price.
Of course, there is a whole arsenal of ways by which the amount of the transaction on the alienation of housing is objectively determined.
If we talk about how realtors or employees of companies involved in determining the value of real estate on a professional basis evaluate the cost of an apartment, it should be emphasized that each of them will have its own calculation.
It is important to remember one thing: the price of residential apartments depends on a number of factors, including the mood of the participants in the transaction at the time of its completion.
We determine the arithmetic mean
You have the right to try to independently determine at least an approximate payment for your housing, even if you do not have the slightest idea of how the cost of an apartment is estimated by a pro. Moreover, every sane person can do this.
You need to study the database of real estate for sale. Select those apartments that are similar to yours in terms of footage, number of rooms, distance from the metro, number of storeys, age of the house, and infrastructure. Now mark the cheapest and most expensive housing. After that, calculate the arithmetic average of the indicated amounts - this will be the price of your home. At the same time, do not forget that almost all owners slightly overestimate the cost of the apartment, leaving the right to bargain with a potential buyer.
Real estate agency will help
You can do it even easier: by calling any real estate agency and introducing yourself as a buyer, you will always find out from the agents how much money a person who buys an apartment in a given area will have to fork out.
Factors that affect the cost of apartments
Want to know how experts rate the cost of an apartment? Everything is not as complicated as it might seem at first glance. Valuation of real estate is carried out by analyzing the object according to several criteria, which ultimately determine its real value.
Let's consider them in more detail.
1) The location of the property. The city of realtors is conditionally divided into areas, for example, central, sleeping, outskirts.
2) The area of the property. It’s no secret that the larger the quadrature of housing, the more expensive it is.
3) Availability of infrastructure facilities. Of course, if in the immediate vicinity of the house there is a hospital, a kindergarten or a market, then a decent price can be asked for an apartment.
4) Availability of repair. Of course, shabby walls or cracked tiles will reduce the cost of housing, but if you glue new wallpapers and make minor cosmetic repairs before the deal, then you can safely raise the price, of course, within reasonable limits.
5) Storeys. It just so happened that the apartments located on the first and last floors are in less demand among buyers, so the price will be lower compared to other apartments.
Media Advertisements
Valuation of real estate is carried out using another simple method. Which one? Everything is very simple.
You submit advertisements for the sale of an apartment to local newspapers and indicate the approximate price that you have determined based on the above points. After that, keep track of how many comers have responded to your offer. If there are a lot of calls, then this is a sign that you have indicated a slightly lower price, which you can later raise slightly. After that, you again play the role of the telephone dispatcher and control the situation. However, it should be noted that this method is good for those who are in no hurry and who have plenty of free time left. It is possible that only after a year you will be able to conclude a deal with maximum benefit.
Of course, if you are a busy person and you need to urgently sell housing, you should follow a different scheme, since the assessment of the value of real estate is the lot of professionals. Today on the market there are a huge number of companies that help in determining the real value of housing. In order for them to do their work, you must provide them with documents of title (one-time certificate) for the apartment, a certificate from the BTI (form 11a).
We emphasize once again that market valuation of real estate can be done by an expert according to an individual method. It must be remembered that this is a very specific procedure, the end result is influenced by diverse criteria by nature.
Methods for calculating the cost of an apartment used by professionals
It should be noted that the expert assessment of the value of real estate occurs through three methods of calculation:
1) Costly. It is based on the fact that the price of apartments is determined on the basis of the amount of expenses that the owner incurred in the repair of the property (transportation of building materials, their cost, salaries to contractors, taxes, etc.). Plus, the appraiser must take into account the level of inflation, depreciation. Given these factors, he adjusts the calculation.
2) Profitable. This method is specifically designed for commercial real estate. Its meaning is extremely simple. The price of the premises is determined based on the size of the potential benefits that the new owner will receive in the future. However, the method is suitable exclusively for shops and shopping centers.
3) Comparative. This method is considered by experts to be the most common. In this case, the valuation of real estate is determined by comparison with other similar offers for the sale of apartments. Since its use does not imply special knowledge, this method will not cost you so much.
By concluding an agreement with a specific company engaged in the assessment of real estate on a professional basis, it will not be superfluous to inquire through what method they determine the cost of apartments. If you don’t like this or that assessment method, you can always choose another expert.
It should be noted that the cadastral valuation of real estate is carried out by BTI, and now the tax on houses and apartments will depend on this indicator.
Assessment of an apartment with mortgage lending
So, you are planning to get a mortgage loan, and bank employees have met you in this matter. You should be aware that immediately there will be a problem of determining the real value of your square meters. Of course, the credit institution will offer its appraiser, but do not rush to believe that in its work it will be guided by the principle of impartiality.
Naturally, it is likely that he will deliberately increase the cost of your future apartments. That is why choose banking institutions that provide clients with the right to choose an appraiser or agree to conduct several independent examinations so that the price of housing is truly objective. In addition, dwelling on a particular mortgage lending program, you must pre-calculate the liquidation value of housing. In other words, you need to answer the question of how much your apartment will cost if you have to sell it as soon as possible. Consider the fact that the market value of housing is approximately 30% higher than the liquidation.
Conclusion
The above recommendations will help you make an assessment on your own, thereby saving you a family budget. However, remember that in some cases you can not do without the help of specialists.