Selling your apartment can be a good idea to provide you with the initial investment to purchase a new, much larger, and more comfortable property. The real estate market is particularly suitable for this type of investment.
But be careful, to ensure your new project’s success, you must sell your first property.
The square footage
The rule of the square area applies. It is about estimating your property based on the living area only. You should not take into account spaces occupied by radiators, stairs, windows, doors, etc. This gives an objective and precise point of view of the price of the property.
The work to be done
And of course, you also have to take into account the work to be done. The estimate of the latter tends to minimize the selling price of your property. You can request a quote to get a clear idea of the discount you should offer at the sale price.
The market value of your property can also depend on its rental value. Indeed, if the apartment can be rented out, it can be sold for more.
For example, you should focus on the history of the building in question. Did the old tenants tend to stay? Does the neighborhood attract tenants? Etc.
Like the apartment’s selling price, the rental price varies depending on the size and characteristics of the building.
You cannot blindly fix the selling price of your property. You must also take into account the real estate bubble.
Visit other apartments of the same kind.
There is nothing like visiting other apartments of the same type to get a perfect estimate of your property. It must be a property in the same neighborhood, the same size, or even the same style and characteristic. Preferably, opt for an apartment that has already been sold. This will also allow you to have an estimate of the duration of the sale.
Use a broker
The real estate broker can also be a good alternative for a tailor-made estimate of your property’s value. This professional will tour the property to see all the details and thus allow you to know the apartment’s real market value, with all the work that remains to be planned and the market trend.
The professional broker will offer you a price range. It’s up to you to see the ideal price you want to display to sell quickly and simply. You should not minimize the negotiating room.
Moreover, even though the broker will take a commission to estimate your house, he intervenes only as an indication. That is to say that nothing obliges you to respect his advice.
Online comparison tools
On the web, you also have comparison tools that can be useful for estimating your property. These are usually platforms that cater to buyers, but can also help sellers. You just have to enter the characteristics of your property.