What does the price of the apartment consist of?

Apart from zip code, size, age and general condition, the price of an apartment is also made up of many other factors that you may not think of. Here are a few factors affecting the value of the apartment:

Floor

In an apartment building with an elevator, the higher the apartment is located, the more expensive the square meters are, in one without an elevator, the opposite is true. Ground-level apartment buildings in the inner city are considered unsafe, so their square meter prices are often the lowest. In townhouses, one-level is a more desirable solution, so the square meter prices are higher in them.

Location in the house

Corner or through-building apartments are often sought after, because then there are views to two different air directions and light floods the apartment better. If the walls, ceiling or floor of the apartment border on something other than the neighboring apartment, it is usually a plus and often increases the value of the apartment. The location along a noisy street or in a quiet courtyard greatly affects the desirability of the apartment. In terraced houses, the end apartment farthest from the street is often the most valuable.

Building company premises and ownership

If the company has commercial apartments or owns e.g. garages and warehouses and thereby receives rental income, it increases the value of all apartments due to the lower company consideration.

Building company renovations

The upcoming renovations of the housing company, the costs of which are not yet known, are uncertainty factors that lower the price of the apartment. Many buyers don't even go to look at apartments that are going to be renovated, for example, but the decision on the start of the renovation or the costs is not yet known. When these are known, the sales barrier is reduced and it is easier for the buyer to make a purchase decision.

Realized prices for the company's other apartments

If, for example, renovated apartments have been sold in the housing association, the square meter prices of which are higher than usual, this will increase the average square meter price of the entire company and may raise the value of other apartments as well. Unfortunately, this also happens the other way around.

The cleanliness and appearance of the apartment for sale

When the apartment has been carefully prepared for sale, cleaned, attractively decorated and small defects repaired, the apartment will almost always sell faster, which means a better selling price.

Individual solutions

Personal color schemes and furniture solutions affect the value of the apartment in both directions. If the style hits the right button for the right target group, you can pay more for the apartment than similar ones. Most of the time, interior solutions that deviate from the mainstream, however, reduce the number of buyers and thus the price of the apartment may decrease.

Size of the apartment

It's not the squares that decide, but the functionality of the floor plan. In detached houses, the number of bedrooms is very decisive. If there are only two bedrooms, it can reduce the price of an excellent detached house by a lot. The condition of the object affects the price of very large apartments or detached houses more than others. The renovation costs are then also large and more difficult to estimate, so it is also reflected in the price.

The price level and condition of the area

The meaning of condition changes from one object and region to another. A good condition apartment in a cheaper area may be in need of renovation in an expensive area.

First impression and yard areas

The first impression starts when you enter the residential area. It goes without saying that a clean and well-maintained entrance yard, stairwell and hallway define the value of an apartment first.

Right or wrong area?

Residential areas have their own group of buyers. If you are looking for, for example, an old apartment in an idyllic wooden house area, you do not want to buy a new detached house or a new wooden house apartment there. Or if you are looking for a valuable seaside property on the "gold tooth coast", you don't want to buy a more modest property there either. When a family with children is looking for a new, easy-to-maintain single-family house in a popular area with small houses, close to all services for a family with children, they don't want to buy a large stone house or a small terraced house in the same area. If such an object is found in the area, its value is lower only because it is located in the "wrong" area. The area may be highly valued, but if the object does not suit the residents of the area, the value can change radically compared to similar objects located in the "right" area.

In addition to the above, there are many more factors that affect the price. The most reliable estimate of the price of your apartment is given by an expert real estate agent on site. You can book a free evaluation visit here.