atHome.lu Blog
Menu

3 criteria that add value to a property

If someone asks you how much your property is worth, you are likely to say "priceless". Yes, in your eyes. But you have to distinguish between the emotional value and the value of the property on the real estate market. And the latter includes specific characteristics that will increase the price when you sell

A good location: the number one criterion for increasing the value of your property

The location has a strong influence on the price of a house and certain prestigious addresses will increase the price thanks to a privileged location (unobstructed view, exceptional situation in the hyper centre, scarcity of housing for sale in this area, etc.). But that's not all, in addition to what is commonly called "amenities". By this we mean easy access to transport networks (road, tram, station, etc.), the presence of schools or shops nearby. The address and its environment are fundamental when it comes to determining the value of a house or flat, especially if you are thinking about resale. In short, the more complicated a property is to find in a neighbourhood, the higher its value. But that's not all!

The condition of the accommodation and the number of rooms

Not all buyers are happy to break down walls or renovate a bathroom. The general condition of the property (electricity, heating, insulation, etc.) and the quality of the materials used give (or take away) value from a property. A flat from the 1950s that has been completely renovated with recent equipment and contemporary decoration will be worth more than one located in the same neighbourhood, but ... with services from another era! This raises the question of whether it is not necessary to carry out some embellishment or modernisation work in order to hope to sell for more money.

Equipment that adds value

Apart from the basic criteria (location, number of rooms, surface area, general condition), there are other factors that will increase the price of the property. These include the presence of a garden for a house or a terrace or balcony for a flat. Add to this services such as a garage, a swimming pool or a customised kitchen. Don't forget that some considerations will always be subjective, what is valuable to one person will not be to another.

Relying on average statistics to determine the real value of your home is only a first step, you should not hesitate to use the estimation tools and to ask for several estimates in order to be well positioned in relation to the market.

What are the property prices at the moment?

Prices are slowing down. Interest rates are rising. What are the trends for the coming months?
Read the analysis
atHome

Written by

atHome

Posted on

26 June 2020

magnifycrossmenuchevron-down