House sale - How much is your house worth?

You have made the decision to sell your house?
In all your deliberations, you are now particularly concerned with one question: How much is your house worth and what selling price can you achieve with it? After all, you want to sell it as profitably as possible.

In my blog post: Selling a house - How to shorten the selling time! you have already read that a selling price that is too high can lead to you not receiving any enquiries and your property for sale standing empty for longer than you would like. On the other hand, you also don't want to act too hastily and offer your house too cheaply on the market.

Thus, you are tormented by a fear: that you will advertise your house with a wrong price and you will lose a large amount of moneywith this decision.

You would now like to know how the price of your house is determined? To begin with, it should be said that the value of a house cannot be calculated in a general way. However, there are 2 factors that determine yours significantly. You can find out which factors these are in this blog post.

Two factors determine your house value:

Factor #1: The location

If you ask me as a real estate agent which is the most important factor for a good sales price, then I can give you a clear answer: The location.
You ask yourself why? You can influence the condition of your house (renovations, refurbishments, etc.), but not the location.

You have a house in a secluded, quiet location? You think to yourself that your potential buyers will surely regard this idyll as positive? As a seller, it is not a good idea to evaluate the location in such a general way. Far more factors come into play here. We distinguish between macro and micro locations.

Macro location - enough jobs, public utilities etc. in your region

The macro location (Greek makro = large) focuses on the wider environment, in short: the region in which your house is located.

The following questions arise when assessing the macro location of your property:

• Are there enough jobs in the region?
• What about public services? Are there shopping facilities, medical care, etc.?
• What is the composition of the population? Families, seniors, students?
• Are there more natural disasters or other environmental impacts?

Micro location - close to bus stop, supermarket etc.

The microlocation (Greek: micro = small) deals with the immediate surroundings of your house.

The following questions arise in the assessment of the microlocation:

• Proximity to transport links (e.g.: how far away is the nearest bus stop?)
• Proximity to public services (e.g. how far is the nearest supermarket? )
• Are there leisure/recreation facilities nearby?
• Who are the neighbours? What is the noise level in the neighbourhood?

Both macro and micro locations focus on economic and social aspects. These determine whether your potential buyers view the location of your house positively or negatively. Thus, it is normal for two houses of similar size and in similar condition to have a different value if one is located in the city centre and the other is secluded in the countryside.

Factor #2 Supply & Demand

The real estate market, like almost every market, is based on supply and demand.

Simply explained, this means that when there are few houses for sale, but there are many people who want to buy a house, the prices of the properties for sale shoot up.

The situation is different if there are more houses for sale on the market than there are buyers. Then the sales prices will fall.

My insider tip on this: Did you know that there are seasonal fluctuations in the real estate market? In which season you achieve a higher sales profit, you can read in this article: Secret tip for selling a house: How to recognise the perfect time to sell (published by 31 December at the latest).

Conclusion: If you know the value of your house, you will achieve the best possible sales price!

In addition to supply & demand and location, there are smaller factors that also go into the valuation. What is the condition of your house? How big is it? When was it built? To name just a few additional criteria.

Are you afraid of making mistakes in the self-assessment of your house and thus setting the wrong price for the sale?

My tip: Have your property valued by an expert who knows the area. With his expert knowledge, you will gain certainty regarding the pricing.

You can also use our Real Estate Consultancy programme, which gives you an approximate price range for your property for sale in 3 steps.

Do you have any other questions about how much your house is worth?

You are welcome to contact us directly: Via e-mail(immobilien@arealita.at), via telephone(+ 43 512 580 242) or via contact form (click here!).

Yours sincerely,
Yours sincerely, Bernhard Großruck

I would like to sell my house with an estate agent!

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