Determining the value of a property - How do you determine the correct value?

Determining the value of a property is a key part of any sales process. If you do not know the exact value of your house or apartment, you run the risk of selling your property below value or scaring off potential buyers with a price that is too high. Valuation presents many homeowners with the challenge of how to determine the exact value of their property and what factors need to be taken into account. This article explains how the valuation works, what to look out for and why professional support can be useful.

Factors that influence real estate value

Location of the property

Location is one of the most important factors in real estate valuation. In cities such as Nuremberg, Fürth, Erlangen, Schwabach and Roth, property prices are heavily dependent on the micro-location. Centrally located properties in sought-after districts usually fetch significantly higher prices than properties in peripheral locations. Infrastructure, such as proximity to schools, shopping facilities or public transport, also has a significant impact on value.

Condition and equipment

The condition of the property is another important aspect. Well-maintained houses with modern fittings and energy-efficient renovations have a higher market value than older properties that are still in need of renovation. For example, a property in Nuremberg that already has a modern heat pump and a well-insulated façade will generally have a higher sales value.

Size and layout of the property

The living space, the number of rooms and the layout of the rooms also have a major impact on the value. Especially in cities such as Erlangen or Fürth, where living space is limited, these factors play a major role. Optimal use of space and generous areas increase the value, while unfavorable floor plans and small rooms can reduce the sales price.

Methods for communicating values

Comparative value method

In the comparative value method, the value of a property is determined on the basis of sales prices of similar properties in the region. In cities such as Nuremberg or Schwabach, this is a common method as there are sufficient comparable properties available. This method is particularly suitable for residential properties such as detached houses or condominiums.

Income capitalization approach

The income capitalization approach is primarily used for rented properties or commercial properties. Here, the value of the property is calculated on the basis of the expected rental income. This method is particularly important in economically strong regions such as Erlangen or Nuremberg.

Asset value method

The asset value method is used if no comparative values are available. The value of the property is determined on the basis of the production costs, less the reduction in age value. This method is often used for new buildings or special types of buildings.

Tips for determining the value of your property

• Seek professional help: A property valuation should always be carried out by a professional. An experienced real estate agent can help you to realistically assess the actual market value of your property.
• Consider the current market situation: The real estate market can fluctuate. Have the value of your property checked regularly, especially if you want to sell in a growing city like Nuremberg or Fürth.
• Planning renovations and modernizations: Small investments in the modernization of your property can significantly increase its value. An energy-efficient refurbishment or kitchen renovation will make your property more attractive to buyers.

Let my-home.de advise you

A professional property valuation is the first step towards a successful sale. Use the my-home.de service to find out the exact value of your property in Nuremberg, Fürth, Erlangen, Schwabach or Roth. Our real estate agents are experts in the region and will help you achieve the best price for your property. Arrange a no-obligation consultation today using our contact form.

The right valuation is the key to a successful real estate sale

Determining the value of a property is a complex process that takes numerous factors into account. From the location and condition to special procedures such as the capitalized earnings value or comparative value method - a professional valuation will ensure that you place your property on the market at a realistic price. Rely on the expertise of the real estate agents at my-home.de to achieve the best possible price for your property.

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