Every person for entire life has repeatedly come across the problem of buying or selling housing. Sometimes, buying a house, you do not think about the factors that make the price for an apartment unreasonably high. If you find yourself in the role of a seller, your main task is not to sell for a price that differs significantly from the real one. And if in the position of a buyer, then you should not buy too expensive an apartment, which costs several times less.
The concept of housing liquidity is relative enough. Any apartment can be sold - the only question is about its price. Therefore, the problem of cash is only a matter of criteria that lower the value of the object. Why can the apartment become cheaper with all other things being equal? After all, often high-quality luxury living space is not sold for very long. Few liquid apartments are housing with distinct defects in the consumer quality of real estate, caused either by the depreciation of the object, or by the social environment, or the territorial location of infrastructural problems. Depending on the presence of one or more of the above criteria, an apartment may lose in price up to 50 percent. The first group of illiquid objects makes up the apartments just uncomfortable for a living. These include a housing with poor plans, a small kitchen or a windowless kitchen, and so on.
The price of an apartment for sale, no matter which way you look at it, depends on the ability to sell it for the price set. Often, it is not the low price per square meter only those property buyers are guided by when determining with the purchase of future housing.
Real estate agents say that housing is in demand, whose owners are asking an actual market price for it. In the case of an overestimated cost, the seller has three options, which are to give up in the process of bargaining, remove the object from the sale or put the apartment in rent. Due to the unstable economic situation and currency fluctuations, when choosing a home, buyers pay attention to the price of the object first. However, this is not the only criterion that affects the decision to buy home.
So, what criteria are home buyers guided by, which can be essential arguments and factors that influence the decision to buy a particular apartment among a large number of offers, often even more expensive than the market value?
Factors that affect the price of residential realty:
- The area and house allocation
- The prestige of the area and its features, infrastructure, public transport stops, the feature of industrial organizations or parks, etc. is one of the most critical factors in adding price.
2. Type and material of the house, plan, balconies, and basement, the possibility of completion and redevelopment
- Buyers prefer brick houses, which have more thermal insulation and sound characteristics than a panel, also prefer new buildings with modern planning.
3.The floor where the apartment is
- Often it is imperative on which stories the condo is. The lack of an elevator will be a problem for the sale of housing above the third floor.
- Safety and dampness (of wet walls) can be a problem when selling an apartment on the first floor and of course, poor floor overlapping will reduce the price per square meter for the owners of the top stories.
4. Repair status in the apartment
- Many buyers are looking for housing with the repair and without the need for capital investment in the state of the residence. Therefore, restoration often plays a vital role in deciding by buyers to buy an apartment.
5. The view from the window, the area next to the house and the state of the entrance
- Beautiful landscape, sights, a good view from the window, with a children`s play area next to the house area gain in the price of all residential property located nearby. Also, frequently, it is quite a bit of rare for property owners in a house with a renovated or at least clean staircase, can win at a price when selling.
6. Change in demand and activity of the real estate market
- Due to seasonal changes in the real estate market, economic and investment weather prices may rise or fall even up to 10-20% every month.
So, how to rate an apartment for sale:
When evaluating a condo for sale, you always take the above factors and time limits for purchase into account, that is, how urgently the owner needs to sell the property.
After rating and setting the cost of an apartment, there is always a maneuver for bargaining, which does buyers in the real estate market as a generally accepted slight price reduction with their interest in a particular apartment understands. Although it happens that sometimes "insignificant bargaining" can be even 10% or more of the cost per square meter.
Be careful when selling or buying a home. Not always apartment offered for sale corresponds to the proposed price. Before purchasing a condo, study the housing market, try to identify all the disadvantages and advantages of an apartment or house; otherwise, there is always a chance to make a mistake and lose some of your investment or stay without everything at all.
About the author: Melisa Marzett is a guest article author of plenty of publications for different online resources. Currently writing for Academic Services from getting Essay Editor, she collects material for writing her first book ever. Apart from writing, she enjoys swimming in the sea and simple things such as feeding birds in the park.