How is the value of an apartment estimated? Property valuation. Cadastral valuation of real estate

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Very often in a person's life there are circumstances that force him to make transactions with his own apartment. For example, when he moves to another city or intends to take out a loan. Often there is a desire to exchange residential apartments for more spacious ones. In this regard, there is a problem of assessing the real value of the property. Many people ask the following question: “Is it possible to independently determine for what amount to sell your mansions, so as not to miscalculate”? However, it is better not to experiment and use the services of professionals.

The seller of the apartment has a choice

Alas, few people know how the cost of an apartment is estimated, in which cases one cannot do without outside help. In any case, no one wants to sell housing cheap, and, of course, almost no one has the opportunity to wait for years for a “good” buyer. That is why you should always offer a real price.

Of course, there is a whole arsenal of ways by which the amount of a transaction for the alienation of housing is objectively determined.

If we talk about how the cost of an apartment is estimatedre altors or employees of companies that are engaged in determining the value of real estate on a professional basis, it should be emphasized that each of them will have their own calculation.

It is important to remember one thing: the price of residential apartments depends on a number of factors, including the mood of the participants in the transaction at the time of its completion.

Determine the arithmetic mean

You have the right to try to independently determine at least an approximate fee for your housing, even if you have no idea how the pros estimate the cost of an apartment. Moreover, every sane person can do this.

You need to study the database of properties for sale. Select those apartments that are similar to yours in terms of footage, number of rooms, distance from the metro, number of floors, age of the house, infrastructure. Now mark the cheapest and most expensive accommodation. After that, calculate the arithmetic average of the indicated amounts - this will be the price of your home. At the same time, do not forget that almost all owners slightly overestimate the cost of the apartment, reserving the right to bargain with a potential buyer.

Real estate agency will help

You can do it even easier: by calling any real estate agency and introducing yourself as a buyer, you will always find out from agents what the minimum amount a person who buys an apartment in a particular area will have to fork out for.

Factors that affect the costapartments

Do you want to know how experts estimate the cost of an apartment? Everything is not as difficult as it might seem at first glance. Real estate appraisal is carried out by analyzing the object according to several criteria, which ultimately determine its true value.

Let's consider them in more detail.

1) The location of the property. The city is conditionally divided by re altors into districts, for example, central, sleeping, outskirts.

2) Area of the property. It's no secret that the larger the area of housing, the more expensive it is.

3) Availability of infrastructure facilities. Of course, if there is a hospital, a kindergarten or a market in the immediate vicinity of the house, then you can ask for a decent price for an apartment.

4) Availability of repairs. Of course, shabby walls or cracked tiles will reduce the cost of housing, but if you paste new wallpapers and make light cosmetic repairs before the deal, then you can safely raise the price, of course, within reasonable limits.

5) Floors. It just so happened that apartments located on the first and last floors are less in demand among buyers, so the price will be lower compared to other apartments.

Media advertisements

Evaluation of real estate is done using another simple method. What? It's very simple.

You submit advertisements for the sale of an apartment in local newspapers and indicateapproximate price, which was determined based on the above points. After that, keep track of how many applicants responded to your offer. If there are a lot of calls, then this is a sign that you have indicated a slightly lower price, which can later be raised slightly. After that, you again play the role of a telephone dispatcher and control the situation. However, it should be noted that this method is good for those who are not in a hurry and have a lot of free time left. It is possible that only after a year you will be able to make a deal with maximum profit.

Of course, if you are a busy person and you urgently need to sell your home, you should act according to a different scheme, since real estate valuation is the lot of professionals. Today, there are a huge number of companies on the market that help in determining the real cost of housing. In order for them to do their job, you must provide them with title documents (one-time certificate) for an apartment, a certificate from the BTI (form 11a).

We emphasize once again that the market valuation of real estate can be carried out by an expert on an individual basis. It must be remembered that this is a very specific procedure, the final result is influenced by criteria that are diverse in nature.

Methods for calculating the cost of an apartment used by professionals

It should be noted that the expert assessment of the value of real estate occurs through three calculation methods:

1) Expensive. It is based on the fact that the price of apartmentsis determined based on the amount of costs that the owner incurred during the repair of the property (transportation of building materials, their cost, wages to contractors, taxes, etc.). Plus, the appraiser must take into account the level of inflation, depreciation. Taking these factors into account, he adjusts the calculation.

2) Profitable. This method is specifically designed for commercial real estate. Its meaning is extremely simple. The price of the premises is determined based on the size of the potential benefits that the new owner will receive in the future. However, the method is only suitable for shops and shopping centers.

3) Comparative. This method is considered by experts to be the most common. In this case, the assessment of the value of real estate objects is determined by comparison with other similar offers for the sale of apartments. Since its use does not require special knowledge, this method will not cost you that much.

When concluding a contract with a specific company that deals with real estate appraisal on a professional basis, it will not be superfluous to ask what method they use to determine the cost of apartments. If you do not like this or that way of evaluation, you can always choose another expert.

It should be noted that the cadastral valuation of real estate is carried out by BTI, and now the amount of tax on houses and apartments will depend on this indicator.

Appraisal of an apartment for mortgage lending

So you are planningapply for a mortgage loan, and bank employees have met you halfway in this matter. You should be aware that the problem of determining the real value of your square meters will immediately arise. Of course, the credit institution will offer its appraiser, but do not rush to believe that in his work he will be guided by the principle of impartiality.

Naturally, there is a high probability that he will deliberately inflate the cost of your future apartments. That is why choose banking institutions that give customers the right to choose an appraiser or agree to conduct several independent examinations so that the price of housing is truly objective. In addition, stopping at a particular mortgage lending program, you must calculate the salvage value of housing in advance. In other words, you need to answer the question of how much your apartment will cost if it has to be sold as soon as possible. Consider the fact that the market value of housing is approximately 30% higher than liquidation.

Conclusion

The above recommendations will help you make an assessment on your own, thereby saving your family budget. However, remember that in some cases you cannot do without the help of specialists.