The dramatic increase in housing prices has made it more difficult for buyers and sellers. The prices of different types of apartments, buildings, etc. are different according to the city, district, region and other characteristics, and accordingly, the method of calculating the value of the property is very important.
Knowledge of how to calculate property value and factors affecting it
In this regard, online programs and real estate consultants have helped people and facilitated this process. In the following, the factors affecting the value of real estate and the method of its calculation are explained in various situations.
What are the most important factors affecting property value?
The value of any building depends on many factors. Among other things, such as the age of the building, the capabilities that the building offers, the type of document, the floor of the apartment, etc. are decisive in the valuation. It should also be noted that the method of calculating property value varies for new and non-newly built apartments, houses, villas, etc. In the following, the influencing factors are described separately.
Property location
In Iran, this is one of the most important factors affecting property value. The location of the property in the center of the city, being in the vicinity of beautiful scenery, access to public transportation facilities, stores, shopping centers, schools, etc. all play an important role in how to calculate the value of the property. In addition to the area itself, neighborhoods within the same area, for example two adjacent streets, can also include price differences due to their different locations.
The age of the property
One of the determining factors in the property price is the age of the building. For this purpose, you should first find out the price per square meter of the property in the desired area, then multiply this amount by the square footage of the apartment. This amount is only for newly built apartments and for older apartments, it is generally 1.5% reduction per year.
property size
In the way of calculating the value of the property, its dimensions are among the most important factors. The larger the unit, the more space it offers and the more bedrooms it has, so it makes sense to increase its value. Naturally, a two-bedroom house is more popular than a one-bedroom unit, and therefore there is more demand for it.
Location of the apartment in the building
The method of calculating property value for towers is slightly different. Mainly, the properties in the tower are more expensive than ordinary apartments due to more features, and the value of each apartment in the tower will be different depending on its location. Accordingly, the southern units have a higher value than the northern units of the tower due to their sun protection. Also, the upper classes have about 2-3% more value than the lower classes.
Possibilities
Some other features are also effective in calculating the value of the property. If the property has a private yard, an increase of about 5-10% is expected. Roofed terrace is another feature that increases the price. The price of each meter of terrace is estimated to be 25-35% of the price of each square meter of the property. 70% of the two-sided open balcony and 50% of the three-sided open balcony are included in the value of each square meter of the apartment.
