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What determines the price of apartments for sale and how to evaluate an apartment to sell

The price of an apartment for sale, after all, depends on the ability to sell it for the set price. Often when customers of real estate decide to buy their future housing they take into account not only the low price per square meter.

So, what criteria the customers take into account, that may become important arguments and facts influencing a decision to buy a certain apartment among many offers, quite often, even more expensive than the market value?

 

Factors influencing the price of residential real estate:

1. District and location of a building

  • One of the most important factors of pricing is the prestige of the district and its features, infrastructure, stops of public transport, availability of manufacturing plants or parks, etc.

2. Type and material of a building, planning, balconies and basement, the possibility of completion and replanning

  • The customers prefer brick houses with higher heat-insulating and acoustic characteristics rather than panel houses, and newer buildings with modern building planning rather than soviet projects

3. The floor at which an apartment is located

  • The floor at which an apartment is located is often very important. The lack of elevator becomes the problem for selling an apartment located above the 3rd floor.
  • Safety and dampness (of wet walls) may become a problem before selling an apartment on the first floor and, of course, damaged roof of a building will cause reduction in the price for square meters for owners of the upper floors.

4. Condition of repair in an apartment

  • Many customers look for an already repaired apartment or without a need forcapital investments in the condition of an apartment. Therefore, repair often plays a significant role in making decisions by customers to buy an apartment.

5. The view from the window, building surrounding grounds and condition of an entrance hall

  • Beautiful landscape, monuments, beautiful view from the window, green building surrounding grounds equipped with a playground adds value to the price of the whole residential real estate located nearby. In addition, owners of real estate in a building with reconditioned or clean entrance hall, which is rare, may gain benefit from the price during the sale.

6. Fluctuation of demand and activity in the real estate market

  • The prices may increase or reduce even by 10-20% every month because of seasonal fluctuations in the real estate market, as well as economical and investment climate.

So, this is how to evaluate the real estate for sale:

While evaluating an apartment for sale the above factors and restrictions in the period of sale, namely, how urgently the owner should sell real estate, are taken into account.

 

After evaluation and setting of the price of an apartment, there always remains a manoeuvre for bargaining that is viewed by customers in the real estate market as common slight lowering of price in a case of their interest in a certain apartment. Sometimes small bargaining may comprise even 10% and more of the cost per square meter.

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