If you want to sell a property, as the owner you may be wondering how to set the sale price. Too low and you risk losing money; too high and your property could end up sitting on the market. BIV Immobilier, your estate agency in Liège, presents the various criteria to take into account to determine the true value of a property.
Which factors influence a property’s sale price?
Location
The neighbourhood where the property is located plays a key role! A house located near schools, transport and shops will tend to sell for more.
The condition of the property
A new, well-maintained or renovated property can justify a higher price. Conversely, a house that needs work may see its value fall.
Outdoor spaces
A garden, an outdoor area or facilities such as a swimming pool can add significant value.
The price per square metre
To estimate this price, compare your property with similar properties for sale in your area or ask a local estate agency.
The number and type of rooms
The more bedrooms and functional spaces there are, the higher the value of the house or flat.
The age of the home
More recent buildings often comply better with modern standards, whereas older houses are sought after for their unique charm.
Energy efficiency
Nowadays, a good EPC (PEB) rating (energy performance) appeals to potential buyers and influences their decision to buy.
Why is it important to analyse the current property market?
The dynamics of supply and demand and economic trends can have a considerable impact on the value of your property.
- If demand exceeds supply in your area, you may be able to set a higher price.
- Look at the prices of similar properties recently sold in your neighbourhood to get a good indication of the price to ask.
- Consult estate agents or professional valuers for valuable insights into the current market and help in positioning your property correctly.
The importance of professional expertise
Estate agents have a sound knowledge of the local market and give you a precise, objective valuation of your property. Your estate agency can also advise you on the marketing strategy to put in place and circulate your property’s listing to its network of potential buyers.
To find out more about selling a property and to get a free valuation of your house or flat in the province of Liège, contact BIV Immobilier!
