How should I rate my house

Have a house valued: you need to know that

Table of Contents

Would you like to have your house valued? Here you can find out everything you need to know about it: How you can have your house valued, what costs are incurred, how the appraisal works and which factors influence the value of your house to be determined.

the essentials in brief

  • Play while rating a house various factors such as location, living space, equipment, condition and market situation play a central role.
  • You can basically your house on-line or from one independent appraiser get valued.
  • To one realistic market value To determine (market value) of your house, you should have a market value appraisal drawn up by a certified and certified expert.
  • For a complete market value appraisal For simple real estate, you should normally expect costs between 1,600 and 2,500 euros.
  • A Brief report for real estate, on the other hand, usually costs between 1,000 and 1,400 euros.
  • At a Online real estate appraisal (free of charge or up to 60 euros) is a rough estimate and it does not hold up in court or authorities.

How can I have a house valued?

There are several ways that you can have your home valued. If you want to sell your property and hire a broker to do so, he will carry out the appraisal of your home. But you can also own your house on-line or from one independent appraiser let evaluate. The following explains the advantages and disadvantages of these different approaches and how they work.

Have your house valued online

" Suitable for: a rough guide when buying or selling a property

There are many different real estate portals on the Internet that you can use to have your home valued online. For that you need different Information about your property do, for example:

  • what type of property it is,
  • where exactly it is
  • what residential and land area it has and
  • when it was built.

As a rule, you can easily enter the information in an online form. Once you have entered all the property features and your contact details, you will receive a rough estimate of the value of your house within a few minutes.

advantagesdisadvantage
  • free or very inexpensive
  • can be a first aid, for example when buying or selling a house
  • offers only a rough guide
  • has no validity in court or against authorities

Conclusion: The online estimate is inexpensive, but also quite imprecise. Decisive factors in the house are often not adequately taken into account. An online appraisal is therefore only suitable as a rough guide, but not for a realistic property appraisal. In order to determine the actual market or market value of your house, an independent and professional appraisal is always necessary.

Have the house valued by an appraiser

" Suitable for:

  • precise estimates for private purposes such as buying, selling, or encumbering real estate
  • the clarification of ownership in court or at the authorities

»Occasions:

In contrast to online real estate appraisals, an appraisal is always a chargeable appraisal of your house or another property. An appraiser or expert determines the market value of a property in accordance with binding legal requirements, i.e. the value that the property has at that point in time as measured by the property market. To do this, make an appointment with the expert on site, during which he will examine the house for structural damage and deficiencies, equipment standard and other relevant factors in order to determine the most precise value possible.

The basis for determining the market value is provided by Section 194 of the Building Code (Section 194 of the Building Code), the Real Estate Valuation Ordinance (ImmoWertV) and other guidelines. The report itself is usually around 20 to 30 pages long and includes extensive explanations in addition to the calculations for appraisal.

In order to determine the value of your house precisely, you should have the market value of your house estimated by an independent expert or appraiser.

advantagesdisadvantage
  • professional and well-founded valuation of the property value
  • is based on binding legal requirements
  • Determination according to standardized procedures
  • also exists in court in the form of a full report (market value report)
  • chargeable
  • takes more time than an online assessment

By the way: The experts at Heid property valuation have all important certifications from TÜV, Dekra, IHK and Co. to guarantee you an independent and professional report that meets all legal requirements. We also accept short-term orders. For a free initial consultation you can contact us at any time without obligation.

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Have a house appraised: What are the costs?

The costs of having a house valued depend largely on where you have the valuation carried out:

  • online: around 60 euros
    The online real estate appraisal is usually available free of charge or for a very small amount (around 60 euros). Please note, however: This is only a rough estimate of the house value, which does not hold up in court or authorities.
  • complete market value appraisal: approx. 1,600–2,500 euros
    The cost of a full market value appraisal usually depends on various criteria. For simple land and residential real estate, you should expect prices between 1,600 and 2,500 euros in order to have the value of your property professionally assessed.
  • Brief report: approx. 1000–1,400 euros
    If you would like to have the value of your house estimated solely for private purposes, a more cost-effective alternative is a so-called brief appraisal. Here you should plan costs from around 1000 euros.
  • Mortgage lending value appraisal: costs according to expenditure
    Banks need the mortgage lending value as a basis for granting credits and loans. Depending on how complex the determination is, the costs for such an expert opinion can vary. Certified experts charge around 130 euros per hour.

One tip: If you are still unsure which appraisal you need, you can find out in our guide which real estate appraisal is right for you.

The cost of an appraiser to have your house valued is around 130 euros per hour.

Have a house assessed: when does it make sense?

Although you have to expect additional costs with an appraisal, you can be sure to receive a precise and realistic estimate of the value of your property.

In the following cases, for example, it is very useful or even necessary to have your house or other property valued by an appraiser:

  • if you want to buy or sell a home
  • in legal disputes
  • in tax and property issues in the event of inheritance, donation or divorce
  • in foreclosures
  • when loaning a property
  • for private purposes to determine the amount of assets

What procedures are there to have a house valued?

The price of a property is determined by a professional appraiser based on the market value (market value). There are three different methods available for this:

  • Comparative value method: In order to evaluate the house, the purchase prices obtained for comparable properties are used. The value of the house to be estimated is derived from this. The most important criteria for the comparison are location, size and year of construction.
  • Real asset method: This method mainly takes into account the construction costs incurred during manufacture. In particular, the land value and the building value play an important role. It is mainly used for owner-occupied properties.
  • Capitalized earnings method: Here the expert derives the value from the rental income of a property. Criteria such as the living space or the rental price / m² are used. This method is often used for rental properties.

Depending on the type of property as well as its market environment, a certain procedure or the use of several valuation procedures are appropriate in order to determine the property value as precisely as possible. In principle, however, an appraiser should use at least two methods when assessing the value of your property in order to obtain the most accurate result possible.

A tip: Since every procedure is very complex and requires in-depth knowledge of the market, it is advisable to hire a certified expert for the valuation. Our experts will provide you with a reliable property valuation throughout Germany, including a free initial consultation for a fixed price guarantee. Simply contact us without obligation and free of charge to have your property professionally valued.

Which factors influence the value of a house?

There are a number of factors that can either increase or decrease the value of a home. Below is an overview of the most important points that have an impact on the value of your home.

Location & environment

The value of a house depends primarily on its location and, accordingly, on the supply and demand within it. A distinction is made between macro and micro locations:

  • Macro location: She looks at the general area, the city and the region in which the house is located. It includes the supraregional transport links, the political situation and the economic and socio-demographic developments of the location. For example, is the house centrally located in the city, on the outskirts or in the country? Is there a cultural offer and opportunities for recreational activities nearby?
  • Micro-location: It describes the direct living environment of a property and particularly considers the immediate surroundings of the property such as the adjacent streets, the neighborhood and the residential area. How good is the connection to local public transport? Can doctors, educational institutions, restaurants or shops be reached quickly? What about air emissions and noise pollution at the site? What is the crime rate?

The better the appraiser assesses the macro and micro location of a property, the more accurate the property value is.

When a house is rated, the location is a decisive factor.

Living space

In addition to the location, the living space is particularly important when estimating a property. Living space is the area of ​​all rooms in your property. This also includes the areas outside the property that belong exclusively to it.

The Living Space Ordinance (WoFIV) regulates how the appraiser must calculate the living space in order to achieve a realistic estimate. This precisely defines the criteria according to which an area is classified as Living or usable space applies. Areas such as balconies, terraces and loggias, for example, are usually added to the living space with 25 percent of their area.

By the way: When evaluating real estate, space, room layout and ceiling height also play a role in addition to the area. High ceilings in old buildings are particularly popular and increase the property's value accordingly.

Furnishing

When evaluating a house, an appraiser also takes into account its equipment. A distinction is usually made between simple, medium, upscale and luxurious furnishings.

When categorizing the furnishings, the following criteria play a role, for example, when you have your house valued:

  • Heating systems
  • Sanitary facilities
  • Quality of the building materials used
  • Construction and design
  • special features such as garden, balcony, elevator or sauna

Status

But not only the equipment, the condition of your property also affects its value. When evaluating your home, factors such as

  • Age,
  • State of preservation,
  • Time of the last renovation,
  • Energy standard of the property or
  • their degree of modernization plays an important role.

For example, if a house has damp walls, there was mold in the house or it has poor thermal insulation, this has a negative effect on the estimate of the house value. Through modernization work and repairs, for example of windows, doors or old pipes, homeowners can increase energy efficiency, the quality of life in the house and thus also the value of the property.

When determining the property value, the appraiser also examines the condition of a house.

Supply & demand

Current market conditions also have a decisive effect on the value of a house. Because real estate prices are largely dependent on supply and demand and are subject to regional fluctuations. If you want your house to be valued, the appraiser must take this into account.

Important: If the demand is higher than the supply, property-reducing features play a subordinate role (for example in the case of an unfavorable location, an older year of construction or a poorer condition). If there is an oversupply of real estate, however, good property features are more important, because then the competition on the market is fierce.

Other factors

In addition to these important points, other aspects also have an influence on how much an appraiser estimates the value of your house. These include:

  • Type of property
  • Property size
  • Division of the property
  • Construction year
  • Construction
  • Energy efficiency
  • Land contamination
  • Legal framework, such as monument protection, heritable building rights, right of residence or usufruct

Have your house professionally valued now

To a realistic estimate of the value You should always hire an independent and reputable appraiser to maintain your property. He has extensive specialist knowledge, market knowledge and the necessary experience to carry out a realistic appraisal of your home.

One tip: With one of our certified and independent experts from Heid Real Estate Valuation, you will receive a serious appraisal, which, if you wish, is also valid in court and with authorities. After a free initial consultation, we will jointly agree on a fixed price, within the framework of which we will take over the preparation of your report for you.

Just contact us and arrange one free initial consultation in one of our nationwide expert offices. We also accept short-term orders.

We look forward to your inquiry!