In order to know the real value of a property, whether that means having an idea of the right purchase price or being able to sell or rent at the highest profitability, it’s essential to know what factors add value to a property.
The value of a property depends largely on its appraisal value, and the real estate appraisal depends on a number of criteria that is checked by a competent professional. This determines the value of the property, where these factors that can increase its value are taken into account:
- Location: determined by the facilities and services in the surrounding area.
- Height and orientation of the property: where the upper floors are better valued for having more light, better views, better ventilation and less noise.
- Age: the value of which depends on the materials used in construction.
- Condition of the property: since a property loses value over time if it is not renovated or repaired.
Given that all these factors are objective and depend on the type of property you want to buy or sell, there are certain aspects that can be improved, which will increase the value of a property:
Performing both interior and exterior renovations: changing the floors, swapping the windows for ones that help thermal and acoustic insulation, and updating both the kitchen and bathrooms.
Gaining space in the house without adding an extention, for example by removing partitions to create open-plan areas.
Improving the energy efficiency of the house by replacing light bulbs with LED bulbs, and swapping appliances for those with a better energy rating, as well as improving the heating and hot water systems.
At WeRelocate BCN we know that adding value to your investment or home helps maximize profit, so you can be sure to pay the best price for your property, as well as to get a good return on your investment.