What does the price of an apartment consist of?

Apart from the zip code, size, age and general condition, the price of an apartment is made up of many other factors. Here are a few factors affecting the value of an apartment:

Floor

In a building with an elevator, the higher the apartment is located, the more expensive the square meters are. In one without an elevator, the opposite is true. Ground-level apartments in the inner city are considered unsafe, so their square meter prices are often the lowest. In townhouses, one-level is a more desirable solution, so the square meter prices are higher in them.

Location in the building

Corner or through-building apartments are often the most sought after since there are views to different directions and light floods in the apartment better. If the walls, ceiling or floor of the apartment border on something other than the neighboring apartment, it is usually a plus and often increases the value of the apartment. The location along a noisy street or in a quiet courtyard greatly affects the desirability of the apartment. In terraced houses, the end apartment farthest from the street is often the most valuable.

Building premises and ownership

If the company has commercial apartments or owns garages or warehouses and thereby receives rental income, it increases the value of all apartments due to the lower maintenance charges.

Renovations

The upcoming renovations of the housing company with the costs yet unknown, are uncertainty factors that lower the price of the apartment. Many buyers don't even look at apartments that are going to be renovated if the start of the renovation or the costs are yet unknown. When these are known, the sales barrier is reduced and it is easier for the buyer to make a purchase decision.

Realized prices in the building

If renovated apartments in the building have been sold with higher square meter prices, it will increase the average square meter price of the entire building and may raise the value of other apartments as well. Unfortunately, this also goes the other way around.

The appearance of the apartment

When the apartment has been carefully prepared for sale, cleaned, attractively decorated and small defects repaired, the apartment will almost always sell faster, leading to better selling prices.

Individual solutions

Personal color schemes and furniture solutions affect the value of the apartment both ways. If the style hits the right button for the right target group, you can pay more for the apartment than similar ones. Most of the time, interior solutions that differentiate from the mainstream trends reduce the number of buyers and thus the price of the apartment may decrease.

Size of the apartment

It's not the square meters but the functionality of the floor plan. In detached houses, the number of bedrooms is very decisive. If there are only two bedrooms, it can reduce the price of an excellent detached house by a lot. The condition affects the price of very large apartments or detached houses more than others. The renovation costs are also large and more difficult to estimate, so it is also reflected in the price.

The price level and condition of the area

The meaning of condition changes from one property and region to another. A good condition apartment in a cheaper area may be in need of renovation in an expensive area.

First impression and yard areas

First impression is made when entering the residential area. Naturally a clean and well-maintained entrance yard, stairwell and hallway define the value of an apartment first.

In addition to the above, there are more factors that affect the price. The most reliable estimate of the price of your apartment is given by an expert real estate agent on site.