To sell a property quickly and above all at a fair price, you must first estimate its value. To this end, several solutions are available to sellers. In this article, we share with you the most effective techniques for estimating the price of a home. You will also discover simple tips to increase the market value of a property.
Summary
Real estate : estimate the value of a house online
To estimate a property, it is possible to use a free online simulator. This kind of tool is more and more popular, because it allows to know the approximate price of a property very easily.
How to make a real estate estimate online?
The tools which make it possible to calculate the value of a house online generally use a very large database which comes from a common file of several real estate agencies. They therefore rely on information from thousands of transactions to provide an estimate of value very close to reality.
The valuation of a property is done according to several criteria which are specific to each type of property. To estimate the value of an apartment, for example, we take into account:
- the state and year of construction of the building,
- the floor where the apartment is located,
- the presence of an elevator,
- the presence of a balcony …
On the other hand, to determine the value of a house, we will base ourselves on the quality of the frame, the presence or not of a veranda or a swimming pool, the joint ownership … All the information collected will allow you to simulate the value of your property and offer you a price range..
The best online value simulation services will also provide you with an advisor. This will use the results of the simulation to go into more detail and help you get an even more accurate value.
This is very important because the estimation tool cannot take into account all the factors that determine the price of a home. The intervention of an expert in your sector is necessary to refine the results.
What are the advantages of an online estimate?
There are several advantages that come from estimating real estate online, starting with free. Estimating the value of your home online allows you to know its value and to position yourself well in relation to the real estate market. If you decide to price your home yourself, you will find that it is quite a difficult project that has several limitations, as you will not be really objective.
Online valuation allows you to get started selling your property and make a fair offer. You will get results faster because you won’t fall for the hype. In addition, the potential buyer will have confidence in the value of your property if they know that you have not made an estimate yourself, but instead used an online real estate simulation. Your ad therefore becomes legitimate and you are more likely to sell quickly.
Real estate valuation: perform a comparables analysis
Comparable analysis is a method consisting of estimate the price of a property by comparing it to other properties similar that have already been sold in the same area. For this, we use information such as the year of construction, the number of floors, the area of the land … to make precise and detailed comparisons.
You will normally need a real estate broker who will provide you with a list of similar homes that have been sold in your area recently. Select between three and ten recent comparables to establish a representative price range.
It is important to note that the homes you are going to compare may not be 100% similar. So you need to make adjustments to make a fair valuation. You must identify the major dissimilarities (swimming pool, garage, finished basement, converted attic, terrace, etc.) and estimate their value.
Seek advice from a real estate agent or broker
A real estate broker is a professional who perfectly masters the real estate market in the sector in which he practices. He necessarily has a certain number of transactions to his credit and therefore has an idea of the prices and the factors which make the value of a good vary. You can trust him to assess the price of your house. His expertise will be useful to you so as not to sell your house below its fair value..
How to increase the value of your property?
Over time, a house or an apartment inevitably loses value. So when the moment comes to part with your property, you get less profit from it than when it was new. However, there are several ways to increase the value of your home in order to improve the capital gain at the same time. This involves planning and renovation work that you will surely not regret.
Painting interior walls
To rejuvenate your home and increase its value, think first of repainting the interior walls. The return on investment of this operation can reach 100%. Opt for neutral colors to revive all the splendor of your rooms.
Certain colors such as yellow or pink should be avoided. They may darken your interior space.
Renovate windows
We don’t think about it often, but the condition of the windows has a huge influence on the visual appearance and energy performance of a home. Therefore, if your windows are already old or dilapidated, consider changing them before you put your property up for sale. So, if they are wooden windows, you can scrape off the old paint and treat the parts exposed to the weather before applying a new coat of paint.
If your current windows are PVC with single glazing, you can replace them with double glazed openings in order to reduce heat loss.
Modernize the exterior of the house to increase the value
The visual appearance of a property’s exterior can influence its value. To do this, check if there are some items that you can restore without spending too much. For example, you can apply a few coats of paint to your balcony, your shutters or on your front door to bring them up to date.
All the same, check the PLU of your municipality so as not to infringe the town planning rules in force. You can also opt for the installation of a swimming pool, a veranda or a garage.
Read also : The complete guide to buying a turnkey home.
