What does the cost of an apartment depend on
The cost of real estate in Ukraine is formed taking into account a variety of factors. Some seriously affect the price of the object, others - only slightly. To understand why one apartment is worth so much, and another - so much, and to know how to determine the value of your apartment, it does not hurt to study this article.
Main factors for the formation of housing prices in the secondary market
If we consider the secondary market, then in it the factors affecting the price of a square meter will be a little different than in new buildings. Here's what to consider:
where the property is located;
in which building the apartment is located;
on what floor the apartment is located;
how big the apartment is and how many rooms it has;
what condition the property is in.
One of the most important factors is the location of the property. Real estate in the city center or in a prestigious area will definitely be more expensive than in a dormitory residential area. The well-being of the area, its livability, transport accessibility, availability of infrastructure (stores, schools, kindergartens, parks, shopping centers), ecological situation also plays a role.
The type of house and its age have a significant impact on the cost of real estate. Apartments in panel houses are cheaper than in monolithic-frame and brick houses. Prices will be the higher the newer the building.
When forming the price, the floor on which the apartment is located is also taken into account. This factor became especially relevant with the outbreak of a full-scale war. Now sellers can set a higher price for housing on the lower floors of buildings. Such apartments are safer and more comfortable during blackouts, when the elevator does not work. Although in the past, the upper floors of high-rise buildings were also valued, as such apartments had a beautiful view of the city.
The area and the number of rooms are other important factors for price formation. In the secondary market, a square meter of a smaller property will cost more than a square meter of a larger property.
An apartment will sell for more if the seller has taken care to put all important documents in order beforehand. Conversely, if you are selling an apartment with problematic documents, there is a risk that you will have to make a significant concession to the buyer: few people want to own a problematic property. If you don't want to lose money, you should first sort out the documents and only then put the property up for sale.
What affects the formation of the cost of an apartment in a new building
The primary market is a different story and here too, there are its own factors that seriously affect the value. Here are some of them:
the class of the property;
stage of house readiness;
location and transport accessibility;
availability of social and retail infrastructure;
reputation of the developer.
If apartments in economy- and comfort-class houses do not differ much in price, the cost per square meter in a new business-class building will be significantly higher. The most expensive offers can be found in elite residential complexes.
If we talk about the stage of house readiness, developers offer the lowest prices for apartments at the start of sales. At the same time, construction may not have started yet or work may already be underway on the foundations. At the initial stage, investors take a serious risk with their funds, but can get the most attractive price. As construction progresses, apartment prices increase in several stages and reach their peak when the building is commissioned. The starting price may differ from the final price by 30-50%.
The more favorable the location of the new building, the more expensive the housing will be. If there is a subway station, public transportation stops, entertainment, social and shopping infrastructure nearby, you should not expect the developer to offer apartments at low prices. If the house is erected in a new sleeping area or in the suburbs, where there is still poor transportation and there is not even a supermarket, it is definitely possible to buy housing relatively inexpensively.
The cost of an apartment in a new house also affects the type of heating. Individual or autonomous (own boiler house) heating is in greater demand among buyers than centralized heating. In this regard, apartments with an individual boiler are more expensive.
The image of the builder is another important factor that determines the price of apartments in a new building. If the construction company has a bad reputation, several unfinished projects or constant delays in delivery, it will be forced to set lower prices to attract investors, otherwise the apartments will not sell well. At the same time, a builder with a good reputation is able to sell square meters at a higher price, as it is trusted.
How to determine the real value of your apartment
The optimal solution, how to understand at what price to sell an apartment, is to analyze the real estate market. To do this, the owner can go to classifieds sites or specialized resources and search there for similar objects in his city. It is important not just to study all the objects in a row, but to try to find a proposal that is as similar in parameters as possible. On the site, you should use filters by neighborhood, number of rooms, and area.
The ideal option is to familiarize yourself with as many ads as possible. From them, you should select those that are as similar as possible to the object you want to put up for sale. Then it is necessary to calculate the average cost of the apartment on the proposed options. It is also important to take into account that most of the advertisements indicate not the real, but the desired value of the property, as sellers put in the price and the possibility of bargaining. If the real estate market at the moment is stable or growing, most likely, in the cost is a minimum discount. If the market situation is unstable, the discount may be higher.
If the option with independent monitoring of the real estate market and determining the market price of the apartment is not suitable, it is worth contacting a professional realtor. The employees of Mayak Real Estate Agency will analyze and tell you the real cost of housing, and can also carry out a number of actions to increase the price and attractiveness of the object for buyers.
