When we find ourselves in the position of having to sell a home in Gaeta, the first doubt that assails us concerns the property valuation. We start making haphazard calculations based on wrong principles that, perhaps, lead us to opt for an exaggeratedly inflated price, which doesn’t attract the buyer, or a lowered one, which results in an unnecessary loss of revenue.
That’s why, in this article, we’ll explain the useful variables for carrying out the valuation of a property as faithfully as possible to reality.
Location Influences Property Valuation
Let’s not kid ourselves, when we choose to buy a home, the first thing that catches the eye is the neighborhood where it’s located. Residential, central or peripheral neighborhood, an area overlooking the sea, redeveloped, or run-down: these are all terms that play a fundamental role in the valuation of a home in general, and specifically in Gaeta.
Simona Pilone – Administrator and Real Estate Agent at delta Immobiliare
To get an approximate idea of the property value depending on the home’s location, you can consult the Real Estate Market Report. This service is reserved for industry professionals who want to carry out a property value assessment, so an unregistered user will only be able to get an indicative figure of their property’s valuation per square meter, depending on the area in which it’s located.
But deluding yourself that you can carry out, with a simple click, a complete online property valuation is one of the most mistaken things you can imagine. Let’s see why.
Property Value: How Much the Condition of the Home Can Influence Property Valuation
Let’s introduce another point: the state of conservation, one of the main merit coefficients, a fundamental parameter for calculating the market value of a property. This coefficient undergoes variations depending on whether the home needs renovation, has been renovated, is in good condition, has been finely renovated or is newly built.
A building needing renovation will be penalized by -10%, while a renovated home will be worth +5%. A renovated home, with quality materials and fine finishes, will be valued 10% more, as will a newly built one.
Another merit coefficient not to be underestimated is brightness. Specifically in Gaeta, the owner of a home located on Via Indipendenza will have to take into account that, even if renovated, due to its internal position, they won’t be able to count on this parameter. In a home with little sun exposure, an important problem can be the presence of humidity that makes the dwelling less healthy and comfortable.
A poorly lit apartment can be worth 5% less, while a very bright one with direct light present throughout the day has a merit coefficient of +10%.
Home Valuation: How Much Do Dimensions Matter?
Certainly this point is one of the most complex. In fact, it needs a careful assessment that we’ll explain briefly. Without getting into useless technicalities, let’s focus on calculating the overall value of a real estate asset.
The overall value of an apartment is calculated by multiplying the commercial surface area data by the price per square meter. But what parameters are needed to calculate the commercial surface area of a property?
Let’s start with the covered surface area which includes the internal walls, the perimeter walls and the shared walls that count for 50%. If we’re talking about the ornamental surface area, that is the balconies, the terrace, the porch, and all those structures that serve as an external appendage to the home, then the valuation is variable, as each of them adheres to its own index.
And how much do accessory rooms count? By accessory rooms we mean those structures such as cellars, private parking areas, attics that have a greater impact compared to the other factors listed.
Let’s Recap the Points on Which We Base Property Valuation
For the determination of the probable market value of the property, we adopt the comparative synthetic estimate, assuming as a technical parameter the price derived from recent free sale transactions for properties similar to the one being valued, concluded in the same area. We emphasize “concluded“, and not “for sale”, in the same area. There’s nothing more wrong, in fact, than valuing a property by comparing it to others that are for sale.
The variables that determine the value of a property are multiple: in addition to size, position, exposure, floor, the presence or absence of an elevator, internal conditions, the presence of parking, the popular or upscale context, the building’s conditions, etc., all have a considerable impact. There are values per square meter by area, values that need to be adjusted based on the property’s qualities, but what affects a valuation the most, to ensure it’s realistic, and therefore reflects market trends, is certainly the price at which other properties with the same characteristics in the same area have been sold, a price that perfectly reflects the equilibrium point between supply and demand.
delta Immobiliare is the service you can rely on to obtain a correct and precise valuation of your home
In short, you’ll have understood that the valuation of a property is a serious matter. So, why not rely on certified professionals capable of providing a timely service attentive to your needs?
We at delta Immobiliare are at your complete disposal to guarantee you a service up to your requests. Having operated for 30 years exclusively in the territory of Gaeta, and in the surrounding areas, we’ve had the opportunity to focus on the local market and study prices by area. For this reason, we’re able to offer a serious and rigorous property valuation report, based on the cross-referencing of different data: those from the Revenue Agency, the Real Estate Market Report and data developed by comparing apartments handled in the same area.
Do you want to sell your home? Contact us if you want to know the valuation of your home in Gaeta, free of charge.
