There are numerous free online calculators on the internet with which you can calculate the value of your property in a few minutes. This is not an official valuation method according to ImmoWertV. Can a suitable value still be determined using this method?
You can find this tool on many estate agents' websites and on property portals. For the calculation, you have 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 house, flat, terraced house, apartment building, etc.).
In the subsequent calculation of the property value, this data is compared with that of similar properties. The quality of the data is crucial here. Sometimes offer prices, which are often higher than the actual purchase price, are used for this flash determination. Sometimes, however, the figures of real sales prices are taken on the basis of the sales collected by the appraisal committees. Often the data stock of these online tools is not transparent for outsiders.
Of course, the data pool is better and more up-to-date for a big city, where far more properties are sold than in a village. And it is easier to compare a flat with another flat than a detached house with another home. This is because there are many other factors that determine value, such as the size of the plot, the condition of the garden, extensions such as garages, conservatories etc.
Therefore, this quick test can only serve as a rough guide. Under no circumstances should it form the basis of an offer price.
If you want to know the exact value because you want to sell or inherit your property, you should entrust an expert such as a qualified estate agent or architect or a building surveyor with the preparation of an appraisal. Different calculation methods are used depending on the type of building.
Would you like to supplement your initial online price assessment with a professional appraisal? Contact us now.
Photo: AndreyPopov
