Correctly estimating the value of your property for sale

On a highly competitive market, it is essential to follow certain rules to sell a property quickly. Among these, pricing positioning requires careful study as it will determine both your profit and your chances of finding a buyer. The middle ground is not a simple ethical question here, it is decisive. Correctly estimating the precise value of your property is not easy nevertheless, and advice from a professional proves useful most of the time. Here is the list of criteria to examine, useful for forming an idea and which may constitute advantages to highlight.

The floor area of the property

Alongside the classification of the property according to the number of bedrooms, the floor area calculated in square metres is a fundamental criterion governing the price you can ask for when selling. An indicative price per square metre is generally given within the city where the property is located, which will help you determine a coherent range.

Take care to include the correct elements! Specifically, only the floor area defined by the Carrez law should be taken into account, namely the parts of the dwelling with a ceiling height greater than 1.80 metres.

Also, not all rooms count in the calculation: the garage, the conservatory, the basement, the cellar, the loggia or common areas cannot be included in the floor area. The same applies to outdoor spaces such as the terrace, balcony or front step.

The location

We mentioned an indicative price that you can easily find on the Internet, constituting a value index for a property located in your commune. However, this is an average price and you will need to take into account other criteria that can strongly impact it, either upwards or downwards.

Starting with the neighbourhood where the property is located. Some areas are highly sought-after, and the price per square metre is increased, sometimes significantly. Conversely, some neighbourhoods may lose value if they have a bad reputation or lack facilities or small shops.

Furthermore, and more generally, a property located in the city will sell for more than the same property in the countryside (with exceptions!). Even then, the size and reputation of the city will influence the property price. At the top of the list of prices charged, we find the capital, of course, followed by the largest cities in the country.

Beyond these considerations, ask yourself about the advantages of the property’s environment. Is it nestled in the heart of a green setting? Does it instead benefit from all the advantages of the city centre? What sought-after facilities are nearby? Transport, schools, sports or cultural complexes, shops are certainly not part of your property’s structure, but their proximity will constitute an advantage to highlight to increase the price to a certain extent.

The existence of an outdoor space

Let us return to the comfort of the dwelling and discuss the importance of having an outdoor space. Whether it is a small balcony if your property is in the city centre, or on the contrary a proper garden, including all sizes of terrace, an outdoor space will certainly increase the price of your property! Especially since the Covid-19 pandemic and the lockdowns imposed on us, the possibility of getting fresh air outside while remaining at home is an important criterion for buyers.

Take care to showcase your outdoor space to emphasise the advantage it represents during viewings. Greenery, clean and pleasant flooring for the presentation, which you can add with useful furniture to demonstrate that the space allows for outdoor dining and spending convivial moments.

The presentation of the property

Estimating the value of a property also means becoming aware of the impression it will give visitors. Criteria totally unrelated to the property’s structure itself will nevertheless influence the potential offer you may receive and its amount. Decluttering and depersonalisation constitutes in this sense free actions for you but which may bring greater success by helping the potential buyer to picture themselves in the property immediately.

More concretely, floors, paintwork and fixtures will reduce the selling price if they are in poor condition. It is often possible, for modest cost, to quickly improve the property’s appearance.

In your approach, once the previous steps have been completed, we advise you to adapt your estimate to the condition of the property. If it is worn or major fixtures need to be replaced (boiler, hot water cylinder, etc.), revise it downwards by a few thousand euros. You can also estimate that this will be the subject of negotiation when the offer is made, but bear in mind that you could also put off buyers.

Elements that create love-at-first-sight moments

Finally, do not overlook what is exceptional about your dwelling. At least, what generally creates a “wow” from your relatives. A modern kitchen, a luxurious bathroom, a zen-style garden or a charming pellet stove can trigger a love-at-first-sight moment.

Correctly highlighted in your advertisement photos, these elements will attract visitors and justify a price above market rates, within reason of course.

Overestimating the selling price constitutes the greatest obstacle to property transactions. Both on criteria deemed objective and due to the affection they hold for it, an owner may in good faith believe their property is worth more than the estimate made by an estate agent. Projects justifying the sale may additionally encourage the desire to pocket more money to see them through. This calculation is not always the right one as a property that does not sell can be costly, particularly in the case of taking out a bridging loan. Ultimately, and even if you do not intend to use their services, you will benefit from validating your pricing positioning with a professional.