
Be careful with online property valuations!
You can find this tool on many real estate agent websites and real estate portals. To calculate the value, you need to enter some data, such as the location of the property (postcode), the living space, the number of rooms, the condition of the building, and the type of property (detached single-family home, apartment, terraced house, multi-family home, etc.). Such calculators are therefore a good way to get an initial estimate. This is because, especially if you bought your property several decades ago, its current value may differ significantly from the purchase price at the time.
However, online valuations do not take into account the individual characteristics of your property. If you look at how the online calculation works, it quickly becomes clear that this is only a rough guide:
For the calculation, the data you enter is compared with that of similar properties. The quality of the data is crucial here. Sometimes asking prices, which are often higher than the actual purchase price, are used for this quick assessment. However, sometimes the actual sales prices are taken from the sales collected by the expert committees. The data used by these online tools is often not transparent to outsiders.
It goes without saying that the data pool for a large city, where far more properties are sold than in a village, is better and more up-to-date. And an apartment is easier to compare with another apartment than a single-family home is with another single-family home. This is because many other factors influence value, such as the size of the property, the condition of the garden, and additions such as garages, conservatories, etc.
Regardless of the location and type of property, experts advise against using the value determined online as the basis for the asking price. If the determined value is too high, the sale will take longer than necessary. Conversely, you may miss out on high earnings. For a precise valuation, it is therefore advisable to consult a local real estate agent who can carry out an appraisal in accordance with the Real Estate Valuation Ordinance. This makes selling real estate quick, uncomplicated, and at the ideal price.
Are you interested in a professional property valuation? Contact us now, we will be happy to advise you.