Real estate valuation: How to find the real value of your dream home!

Real estate valuation: How to find the real value of your dream home!

In a tight real estate market, many buyers wonder whether a home's price is justified. The value of a property is not determined by a fixed price, but by the market. Especially in recent years, buyers have often been able to set purchase prices that are higher than market values. This resulted from a competitive market where higher bids were essential to purchase a property. According to the Saarbrücken newspaper The conditions have changed somewhat: currently, buyers generally determine the prices, which is partly due to the change in interest rates.

The common valuation metrics that influence the valuation include the market value, the market value, the current value, the purchase price and the mortgage lending value. The market value and market value are identical; The current value, on the other hand, refers to the market value at a certain point in time. Buyers can also become interested in property valuations through online portals, which, however, only display asking prices. The purchase prices actually paid often remain hidden.

Methods for determining the value of real estate

To assess the value of a property, buyers can use various methods. A common method is the material value method, which is particularly used for owner-occupied properties. This requires both the building value and the property value, which are usually determined by appraisers, brokers or banks. Factors that should be taken into account when determining the value are the location, the year of construction, the condition of the property and the general market situation. The outcome of this assessment must be tailored to local market conditions, particularly when demand is high or low. The VR real estate makes it clear that this procedure is particularly used for properties without suitable comparable properties.

An insight into market developments shows that there can be enormous differences in property values, influenced by factors such as structural damage, energy condition, floor plan and orientation. Appraisal committees in every urban district and district play an important role in collecting and evaluating relevant real estate contracts in order to create current price lists. Those interested can view standard land values ​​at a price between 30 and 50 euros; in some cases this information is even available free of charge.

The benefits of a real estate appraisal

For many buyers, the question also arises as to whether a real estate appraisal is necessary. Even if specialists such as civil engineers or architects can provide valuable support, they do not replace the expertise of an appraiser. However, during the assessment this often only checks aspects such as structural damage, technology, equipment and energy condition, while hidden damage can remain undetected. A market value report can require an investment of over 3,000 euros, which is often not worthwhile for private buyers. Nevertheless, an expert opinion can be useful, especially in inheritance disputes or divorces, although in these cases it does not always make a binding statement.

In conclusion, property valuation is a complex topic that takes a variety of factors into account. Buyers should carefully research market conditions and valuation options to make informed decisions.